
THE banners at the entrance to the Bank of Greece museum in Athens promise a “fascinating journey owing to Greece’s modern economic and monetary history”. How may possibly any passer-by resist? Inside the museum ranks of glass cases enclose an array of coins and ancient bank clarification, as well as the bits and pieces used to make them. The bills range from 5 drachma up to 100m drachma, a reminder that Greece has had problems with inflation in the past. The end of history, at smallest amount for this exhibition, is 2001 when Greece adopted the euro. But the country’s present troubles suggest an vital chapter to the tale of Greek money is still to be written. Some reckon the drachma may roll off the presses again.This is no longer just a fantasy of diehard sceptics about the euro in Britain and Germany. Even Greeks concede that the huge problem afflicting the economy, now in its fifth year of recession, is the uncertainty about whether Greece can stay in the euro and get its act together. Savers are nervous that their cash might be forcibly converted to a new Greek currency. By November the Greek banking system had lost a split up of the…
Original post by The Economist: Business