Greek Drachma

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Greek Drachma

The former currency of Greece. It was introduced in 1832, two years after Greece's legal independence from the Ottoman Empire. During the Nazi occupation in the early 1940s, the drachma suffered from hyperinflation. Inflation slowed after the end of World War II, but remained high until Greece joined the Bretton Woods System in 1953, when the drachma was pegged to the U.S. dollar. After the end of the Bretton Woods System, the value of the drachma gradually declined until it was replaced by the euro in 2001.
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The post Greek PM Tsipras under pressure over covert Syriza drachma plan reports appeared first on Cyprus Mail .
Athens' failure to reach an agreement with its international creditors on a new bailout program before the previous aid package expired on June 30 fueled speculation that the country might leave the Eurozone and return to the drachma.
There are growing fears of a run on Greek banks as the public scrambles to get euro out in case a hasty return to the drachma wipes out their savings.
The company is reported to be preparing to print an alternative Greek currency, and has retrieved old moulds of drachma notes.
The UK's HSBC Holding Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005) has set out contingency plans for its 15 Greek branches to deal with the return of the drachma, The Independent has reported.
One side of the tetra drachma coins depicts Alexander the Great, while the other side depicts the Greek god Zeus sitting on a throne with an eagle on his outstretched right arm.
Tribute for the Pedasians was 200 drachma, the Astyrenians 8 drachma, 2 obols, the Byzantines 1500 drachma, Karmirians 900 drachma, and Thermaians in Ikaros 50 drachma (Fornara, 1977, pp.
And, indeed, there's only so much disbelief a person can willingly suspend when you've got a robust-looking man still in his 30s playing a character who belly dancers dismiss as ``grandpapa'' until he pulls out the drachmas.
At the time of the award, the exchange rate was about 240 drachmas per dollar.
What I'll treasure the most is my collection of Italian lira, Spanish pesetas, French francs and Greek drachmas, as these are four of the 12 European currencies that have been replaced by the new Euro.
Twenty deutschmarks would inoculate a child against all six major killer diseases and 8,000 drachmas would feed one hungry person every day for a week.