Steve Hanke

Following Greece's defeat at the hands of Turkey in 1897, Greece's fiscal house was entrusted to a Control Commission. During the 20th century, the drachma was one of the world's worst currencies. It recorded the world's sixth highest hyperinflation. In October 1944, Greece's monthly inflation rate hit 13,800%.

American Economist

George Papandreou

Greece's history in the drachma was an up-and-down history, a roller coaster.

Greek Statesman

Understand that 'drachma' refers to money used long ago in ancient Greece, not in use today.

Historical Currency

Drachma isn't just ancient currency; it's a part of Greek culture, mythology, and history.

Cultural Significance

Remember 'drachma' as the currency before Greece adopted the euro in 2001.

Pre-Euro Period

Use 'drachma' to discuss Greece's economy and transitions before the euro was adopted.

Economic Transition

Drachma coins are considered collectibles; numismatists value them for their history and rarity.

Numismatic Interest

Modern drachmas are sometimes silver, adding material value beyond historical significance.

Material Value

 drachmas and one Netherlands gilder some of these currencies that I have aren't in use anymore but it's still fun to collect them and look at them and you

Drachma

Historical Currency

Cultural Significance

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