redenominated

Domestic debt contracts—including mortgages and credit-card bills—would also have to be redenominated so as to prevent the instant bankruptcy of most households, which would see their debts unchanged but their incomes shrunk because they are denominated in new, less valuable drachmas.

Exit Would Be Mess for Athens Stephen Fidler 2011

All balances at Greek banks would probably be redenominated at a fixed exchange rate with the new or rather the old currency; but banks could be shut, or strict limits placed on withdrawals from cash machines, while the details were worked out.

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And the government periodically redenominated the Zimbabwean dollar, scribbling out zeroes by fiat, to little effect.

How Zimbabwe and the Dollar Beat Inflation 2011

In the case of Greece, most government bonds are issued under Greek law, and the bonds could be redenominated in new drachma.

Exit Would Be Mess for Athens Stephen Fidler 2011

If the euro broke up altogether, contracts would likely be redenominated into the currencies tied to their base country—a complicated task in itself—or they would be settled in a new European Currency Unit.

For Euro Investors, Time to Check the Fine Print Katie Martin 2011

Besides, bankers say working out how accounts would be redenominated isn't easy.

Time to Think the Unthinkable on the Euro Simon Nixon 2011

Notice: The Zimbabwe government redenominated the ZWD again on February 2, 2009 at a rate of 1,000,000,000,000 old ZWD to 1 new ZWD.

Cheeseburger Gothic » Sunday morning. Back at my desk. 2009

With their debt obligations redenominated in their respective currencies, as Mr. Barro prescribes, European governments in distress would regain the confidence of the lender-investor because of the near certainty that their central banks would recapitalize their banks faster than the European Central Bank or the IMF would, and prop up the value of their investment government bonds without having to worry about serious inflation for now.

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As Nomura points out, the issue of how bonds would be redenominated isn't clear-cut.

For Euro Investors, Time to Check the Fine Print Katie Martin 2011

Last November, citizens were ordered to turn in a limited number of old bills in exchange for new, redenominated currency in an apparent bid to reassert Pyongyang's control over a growing market economy.

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