Since their governments cannot print currency independently, they have had to address their problems at source and reduce spending.

Inflation has decimated the value of the domestic dollar; the government lacks ink and paper to print currency notes.

Because state governments are not authorized to print currency, they generally have to raise revenue through either taxes or bonds.

However, this will increase the central bank's requirement to print currency when the member bank demands banknotes, in exchange for a decrease in its electronic balance.

The banks would be forced to close and couldn't be reopened until they had been recapitalised, either via a baling in of depositors, or using a newly printed currency.