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...Modern monetary theory meets greece and chicago george s tavlas economics working paper hoover institution galvez mall stanford university ca november the series allows authors to distribute research for discussion comment among other researchers papers reflect views of not keywords functional finance tradition uncertainty rules jel codes b e h bank gtavlas bankofgreece gr abstract this assesses what has become known as or mmt using stephanie kelton influential book deficit myth its point reference building on idea developed by abba lerner in basic premise is that size a nation fiscal does matter countries issue their own currency those are able print money deficits backstop debts however situation different have adopted another country regional like euro latter which calls users do access national central consequently these susceptible financial crises circumstance argues was responsible recent crisis adoption meant it unable rely printing press debt i show appraisal greek an inaccura...