In a TV broadcast in "Tagesthemen" Greece's various options are explained, among them so-called IOY as California issued in 2009. "If the Greek government was short of money, it could pay the pensions or the wages of its civil servants in IOYs. However, the government is not entitled to make them a common currency everyone would have to accept," Professor Volker Wieland said.
To the video of ARD-"Tagesthemen" (TV contribution of Sandra Scheuring starting at 13:20 min)