Modelling and simulation of parallel monetary systems for countries without their own currency
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Greece is one of the countries still struggling after the financial crisis in 2008. With adebt burden of almost the double the gross domestic product, they are in a situation whererepaying the debt can seem nearly impossible without extreme measures. This thesis willexamine Trond Andresen s idea from 2010, to implement a parallel currency issued out bythe Greek government, alongside the Euro. First, a generic model will be made describinga land in crisis, then this model will be simulated with values that correspond to the economic situation in Greece in the time frame 2008-2015. The results shows that under theassumptions made for this model, this new currency, if it gets into circulation, will slowlyinduce growth to the gross domestic product, which will enable Greece to repay their debtand stabilize their economy. This may be a viable solution to the economic situation inGreece, if the EU allows it.