Fascinating idea. Should Germany leave the Euro to save it? Would these be a less catastrophic result than several Southern countries leaving? What does this mean for runs on banks?
It’s not all straightforward. We could still end up with a run on non-German banks since the appreciation of the Deutschmark would correspond with a depreciation of the leftover-Euro against all other currencies. So the risks to depositors in Greek banks are similar to what they were before.
Interesting idea nonetheless.