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Currency Denomination: On the Question of the Currency of Debt in Old Contracts in the Event of Withdrawal from the Euro from a German Perspective

In: European Union and Monetary Union in Permanent Crisis II

Author

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  • Dirk Meyer

    (Helmut-Schmidt-Universität)

Abstract

A currency changeover generally leads to the question of which currency will apply in the old contracts in the future. The distinction between the currency statute, the debt statute and the payment statute is important for the question of currency denomination. In particular, the legal situation can be very complex for contracts with a foreign connection. The legal consequences depend on the case constellation: Withdrawal of a euro member state, withdrawal of a euro group of states, (chaotic) break-up of the eurozone, admission of national parallel currencies.

Suggested Citation

  • Dirk Meyer, 2022. "Currency Denomination: On the Question of the Currency of Debt in Old Contracts in the Event of Withdrawal from the Euro from a German Perspective," Springer Books, in: European Union and Monetary Union in Permanent Crisis II, chapter 0, pages 209-229, Springer.
    • Handle: RePEc:spr:sprchp:978-3-658-38646-7_10
    DOI: 10.1007/978-3-658-38646-7_10
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