But that still leaves the idea that it will adopt the dollar when it does dump the euro as being a ludicrous idea. For the point is not that Greece is just in the wrong monetary union, it's that Greece is in a monetary union at all. The fact that if you are part of a monetary union then your monetary policy (things like interest rates, exchange rates and so on) are necessarily the same as those in the monetary union. You cannot have an independent monetary policy whatever the difference in economic conditions between you and the rest of the monetary union. It needs to have its own currency so that it can have its own monetary policy therefore.

Source: Forbes February 15, 2017 09:33 UTC