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drachma

Return to Drachma May Not be Catastrophic for Greece

If Greece leaves the euro, that does not necessarily mean that the country will face an inevitable disaster, says a Bloomberg analysis. The article by Adam Slater, economist at Oxford Economics Ltd, takes the example of more than 70 cases...

Poll: 66.5% of Greeks Prefer the Euro Over Drachma

A new poll shows that 66.5 percent of Greeks favor the euro, while only 27 percent would like to see Greece returning to the drachma. The survey was conducted by the University of Macedonia after several members of the Greek...

Spiegel: Let's All Prepare for a Greek Exit

Greece will go bankrupt after paying the International Monetary Fund 460 million euros and Europe must prepare for a Grexit, a Spiegel analysis says. According to commentator Wolfgang Munchau, Greece's payment to the IMF will probably leave state coffers empty...

Reuters: Neither Grexit or Grexident, Euro and Drachma in Parallel?

An interesting scenario regarding Greece’s future in the monetary union that has not been on the table so far was published today by Reuters. Citing unnamed Eurozone officials, the London-based news agency is saying that if a reforms-for-cash deal...

Varoufakis-Lapavitsas Continue Clever Quotes

Greek Finance Minister Yanis Varoufakis and SYRIZA MP and economics professor Costas Lapavitsas continued with clever quotes on the Greek debt issue, even though the former is in favor of the euro zone while the latter insists on a...

German Tabloid 'Bild' Keeps Provoking Greece

German tabloid Bild has published -for the first time ever- an article written in Greek, in which it calls on Greece to return to the drachma. Over the last few days, the tabloid has been openly attacking Greece on the bailout program...

Greece Should Exit the Euro

There is a serious political and economic clash going on deep inside the EU chambers. The newly elected Tsipras government has triggered a tsunami that may not be so easily contained. The northern states dominated by Germany and braced...

The History of the Drachma

In the past few weeks, the word "Grexit" plays daily in international media. A few days before Sunday's pivotal elections, that most likely will bring the first left-wing government in Greece, the drachma is back on the lips of...

Farage Vows to Visit Greece for Holiday after Grexit

The British Eurosceptic and leader of the UK Independence Party, Nigel Farage predicts that Greece will be forced to exit the Eurozone, saying that this would devalue its currency and as a result make it a “hot” tourist destination. Speaking...

Born In Debt: Greece's History of Borrowing

“From the beginning, our state had no other choice than to live on credit. We were born in debt.” - Gerassimos Notaras, head archivist, historical archive, National Bank of Greece The debt history of Greece begins well before an official Greek...