I started off exploring bearer to the main terminal, the original signs point towards the departure building, where even luggage storage signs were still on display, showing pricing in Greek Drachma
, the currency replaced by the euro in 2001.
'Lazy Greeks', 'liars', 'launderers'; 'Greek drachma
', 'Greek drama', 'Grexit… 'There's no end to the insults and innuendos.
Could we be seeing the return of the Greek drachma
She still thinks staying in the eurozone is wiser than going back to the Greek drachma
Assume that Greece and Germany had their own currencies and that the Greek drachma
and the German mark floated freely against each other.
This would see these former member countries returning to their pre-euro currency - the Greek drachma
and Italian lira respectively.
These tests are conducted for the Greek drachma
after the abolition of Greek capital controls and before entry to the ERM.
While the lofty price tag is by no means unattainable in a Manhattan market where triple figure rents have enjoyed something of a resurgence this year, the veteran dealmaker is cognizant of an economic environment that can turn on the fall of a Greek drachma
or quarterly rise in unemployment.
Market pressures would push the Greek drachma
down into line with that country's economic fundamentals, lowering the prices of Greek exports and raising those of the German competition, at least to Greeks.
ING also mentioned that the Greek drachma
will lose 80 percent of its value against the Deutsche mark that would resurge, while the currencies of Spain, Portugal and Ireland will lose 50 percent of their value.
Following are the middle exchange rates for leading currencies against the euro, according to Reuters: CURRENT HIGH LOW US Dollar 1.2669 1.2722 1.266 Japanese Yen 112.16 112.67 111.96 British Pound 0.8358 0.8384 0.8334 Swiss Franc 1.334 1.3397 1.331 Danish Crown 7.4547 7.4565 7.4536 Greek Drachma
- - - Norwegian Crown 8.0491 8.0985 8.044 Swedish Crown 9.4767 9.545 9.4715 Australian Dollar 1.4443 1.4516 1.4441 Canadian Dollar 1.3076 1.3257 1.3082 Hong Kong Dollar 9.854 9.9015 9.853 Russian Rouble 39.0513 39.1825 39.0185 Singapore Dollar 1.7469 1.7522 1.7459
The German economy minister suggested yesterday that it would be better if the cost of sorting out former East Germany didn't count for the purposes of the Stability and Growth Pact, dreamed up by the Germans themselves to make the euro more like their mark than the Greek drachma