Grexit, page-197

Danhoff,

You really need an head transplant urgently as there is no cure for Alzheimer's  disease. Once more. Because the euro is in great danger  of becoming a FOREIGN CURRENCY IN GREECE and until the GREEKS decide to decipate that danger by accepting more debt in exchange for more 'REFORM' the FOREINERS don't allow the GREEKS to print their (the foreigners) currency.  You see, the euro is not only the currency of Greece, but also the currency of another 18 countries. In America they can do whatever they feel like with their currency as they don't share it with anybody else.   When you join a monetary union you loose sovereignty in matters of monetary policy.

Put this in your head.  ALTHOUGH THE GREEK EUROS  ARE BACKED BY GREEK ASSETS, THE PORTUGUESE EUROS BY PORTUGUESE ASSETS, THE ITALIAN EUROS  BY ITALIAN ASSETS, THE FRENCH EUROS BY FRENCH ASSETS, ETC, ALL  EUROS ARE ACCEPTED IN ALL OF THE 19 COUNTRIES FORMING THN EUROZONE on the basis, that all such assets QUALIFY as colateral IN CONFORMITY WITH CERTAIN RULES ABOUT THEIR QUALITY.

DUE TO THE EVENTS OF LAST FEW DAYS THE GREEK ASSETS LOST THAT QUALITY AND THEREFORE NOLONGER CAN BE ACCEPTED AS COLATERAL BY THE BANK OF GREECE.