Old and new currency of Greece: drachmas and euros

Globalization and integration help people see the problems of other countries, extend a helping hand to them in the hour of adversity or misfortune. A huge alliance in the territory of modern Europe is the European Union, united under its "wing" many countries with similar development conditions. Different cultures, traditions and languages are what are absolutely individual in each state of the given community. The absence of borders and a single currency allow you to travel from one country to another, absorbing the unknown spirit of other people's customs.

Ancient culture and ancient coin

One of the countries of the European Union is Greece. This republic entered the community relatively recently - only in 2002. Prior to this, throughout the hospitable country of mythical heroes and gods, the rhythm of life was set by the national currency of Greece. It was called a drachma.

Even before the emergence of modern states, this sunny region was a symbol of power and prosperity. At the time when Homer wrote his "Iliad", and Hercules performed his exploits, merchants from all over the world acquired in this fairy tale country the magic branches of olive trees, shining decorations and soft fabrics, paying for the goods with drachmas. Even at that time it was the currency of Greece.

Greek phoenix

As time went. The wars and insurrections that took place on the territory of the Ottoman Empire did their work: the country of the divine Muses gained its independence. This happened in 1821 on 25 March. From that time every year the population of the state widely celebrates this event. To the newly acquired sovereignty, the Greek's own currency was added: for a while the Greek phoenix became the "ruling ball" in the country. Each banknote contained 100 lept. At the same time, for 6 phoenixes one could buy Turkish kurush or a similar amount of French francs.

The triumph of his own coin did not last long. Already in 1833, on the throne, together with King Otto, the old and all-familiar currency of Greece, the drachma, "rises". Its denomination was equivalent to the nominal value of the phoenix.

New and old currencies

The Second World War affected its predatory tentacles and this island of serenity. The German occupation and the crisis in the economy caused hyperinflation, which resulted in the release into circulation of new banknotes with the old name. The "fresh" drachmas were exchanged for a crazy amount of old banknotes: for a "newbie" they gave 50 billion devaluated monetary units.

However, it took quite a long time to get out of the crisis, for which inflation did not decrease its pace. The re-issue of new monetary banknotes and coins was the result of the country's prolonged economic impotence. In this case, 1000 old drachmas were the equivalent of the one coin that was just issued.

Of course, many wonder what currency in Greece 2013? For twelve years (since 2002) the "cradle of Zeus" is a full member of the European Union. Therefore, the currency in its territory is the same as in other states of this community, the euro. For some time, the old national currency was still in use, and it could be changed to new banknotes that Greece adapted. The currency, the rate of which was set at 340.75 drachma for 1 euro, is still appreciated by the local population and numismatists.