Could Parallel Currencies Save The Eurozone

The problem in terms of the euro is that this doesn’t really resolve the bank run problem. Dipping Spain’s toes into the waters of reintroducing a national currency only further undermines confidence in the proposition that a €1,000 bank account in Spain is equal in value to a €1,000 bank account in Germany. A local economy of cash and pesetas should keep functioning, but Spanish banks will keep getting «jogged» out of existence.