Walton Labour MP Steve Rotheram and Bootle Labour MP Joe Benton are backing the project.
It would also artificially increase house prices, according to Roger Bootle, an economist at Capital Economics.
James was abducted by Venables and Thompson while at the Strand shopping centre in Bootle.
"At a stroke, Greece can lower its real exchange rate and therefore be more competitive, " Mr. Bootle says.
Venables was 10-years-old when he and friend Robert Thompson abducted and murdered two-year-old James Bulger in Bootle in 1993.
For simplicity's sake, the internal conversion rate should be one-to-one, Mr. Bootle says.
Venables was aged 10 when he and friend Robert Thompson abducted and murdered two-year-old James in Bootle, Merseyside, in 1993.
Mr Bootle argues that businesses now expect and rely on governments coming up with Keynesian measures to revive the economy.
Apart from Bootle, the only other English location among the worst 15 places for life expectancy is Salford, at number 14.
By contrast, male pensioners in Bootle aged 65 are expected to live to 84.9 years and women pensioners to 89 years.
Shots were also fired at the door of a house in Timon Avenue, Bootle, just after midnight but no-one was injured.
BBC: Shots fired 'three times in an hour' at Merseyside houses
Prior to the publication of the MPC minutes on Wednesday, Mr Bootle had a forecast a cut for the March meeting.
Roger Bootle, another shortlisted entrant, says it might be better to start with the departure of Germany and other strong countries.
ECONOMIST: Why Europe��s leaders should think the unthinkable
Captain Shaw's Primary School in Bootle was due to close in August after the county council said it was not "financially viable".
Campaigners have warned of "cultural vandalism" as libraries in Ainsdale, Aintree, Birkdale, Bootle, Churchtown, Crosby, Formby, Litherland and Orrell could face closure.
Library services would remain in Bootle, Formby, Maghull, Crosby, Netherton and Southport.
Andrew Ward from Leadenham near Lincoln has sent 55 bales of hay and silage to Bootle to help farmers affected by March's snowstorm.
Parents and staff are being consulted over plans to axe Captain Shaw's Primary School in Bootle and move pupils to nearby Waberthwaite School.
Kevin Lavelle, 29, of Bootle, Merseyside, died after being fatally wounded with an iron dumbbell at The Cricketers Arms, Banbury, in June 2004.
Kevin Lavelle, 29, of Bootle, Merseyside, was attacked by a gang with an iron bar outside the Cricketer's pub, Banbury, in June 2004.
The crane driver from Bootle, Merseyside, who was working in Banbury, got into an argument with several Welshmen who were staying at the pub.
BBC: Reward increased for Kevin Lavelle 'dumbbell' pub murder
Two-year-old James was killed by Jon Venables and Robert Thompson after being snatched by them from a shopping centre in Bootle on 12 February 1993.
BBC: James Bulger murder: 'I will never forget mother's scream'
Kevin Lavelle, 29, of Bootle, Merseyside, was attacked by a gang from Wales with an iron bar outside the Cricketer's pub, Banbury, in June 2004.
BBC: Reward for identity of Banbury killer raised to ?30,000
Those with the lowest life expectancy live in Bootle on Merseyside.
Mr. Bootle suggests bridging that period by moving to electronic payments.
Venables and his accomplice, Robert Thompson, were 10 years old when they abducted two-year-old James in Bootle, Merseyside, in February 1993 before torturing and murdering him.
The 16-month-old boy was attacked at a house in Salisbury Avenue in Bootle at about 12:40 BST on Tuesday and was taken to hospital with head injuries.
Police had to be called to Bootle Town Hall on Thursday to move the group of about 50 demonstrators before the meeting continued in a different room.
Venables and Robert Thompson were released in 2001 after serving eight years for murdering two-year-old James and leaving his battered body by a railway line in Bootle, Merseyside.
Det Ch Supt Albert Kirby met James's mother Denise as she walked with a family liaison officer in the car park at Marsh Lane Police Station in Bootle.
BBC: James Bulger murder: 'I will never forget mother's scream'
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