A record-breaking swap to trim Greece's huge debt this week overshadowed a more modest exchange for now-obsolete drachmas that left the equivalent of 240 million euros unclaimed, a report said on Saturday. Kathimerini daily said nearly 82 billion drachmas ($320 million) in banknotes were unaccounted for when a Bank of Greece deadline for their withdrawal ended on March 1. Drachma coins had been accepted until March 2004. The newspaper said most of the higher-value banknotes -- worth 10,000 and 5,000 drachmas -- had been cashed in over the past 10 years, but many 100 and 50-drachma notes were apparently kept as souvenirs by Greeks and millions of tourists that visit the country every year. The euro replaced the drachma as Greece's legal tender on January 1, 2002. First used by the ancient Greeks, the drachma was reintroduced by the modern Greek state in 1832 after the country's war of independence against the Ottoman Empire. Greece on Friday completed a deal with private creditors to erase 107 billion euros of its near and midterm debt in a bond swap of unprecedented value that is crucial for its economic survival.
GMT 19:47 2018 Saturday ,06 January
Global stocks extend rally; London hits record peakGMT 19:22 2018 Wednesday ,03 January
Worldwide stocks start year on a highGMT 10:37 2018 Wednesday ,03 January
Asian markets build on gains, dollar faces further weaknessGMT 17:30 2017 Sunday ,31 December
London stocks end year on record highGMT 18:04 2017 Thursday ,28 December
Miners boost stocks in thin holiday tradingGMT 18:51 2017 Monday ,25 December
Oman’s share index falls on lack of buying supportGMT 08:49 2017 Sunday ,24 December
'Virtual gold' may glitter, but mining it can be really dirtyGMT 17:45 2017 Saturday ,23 December
Madrid stocks sink on Catalan woes; London hits record
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor