empty
 
 
The British Company Prepared to Issue Greek Drachma
23-05-2012 18:34
The British Company Prepared to Issue Greek Drachma
The British Company Prepared to Issue Greek Drachma

 The British company De La Rue, that prints the national currencies for numerous countries, prepared necessary equipment for printing Drachma – the Greek currency, which was taken out of usage after Athens started to use the euro, informs Reuters citing the sector resources. According to informer of the agency it is assumed that the private companies including De La Rue will help the Greek government if the local enterprises will be unable to cope with large volumes of currencies, which will be necessary to print. On Friday, May 18, the European Commissioner for Trade Karel de Gucht declared that the authorities of the EU, including the European Commission, and the European Central Bank were getting ready for a possible Greece leaving the Eurozone and returning to Drachma. This appeared the first official confirmation of this type of data. On May 11, it became known that the majority of large banks got prepared to a probable Athens refusal from the euro. In particular, the financial institutions made settings of some electronic systems for noncash settlement and trading in Drachma. The discussions concerning the Greece moving out of the Eurozone started with new enthusiasm amid the political crisis in Greece in May of 2012. During the parliament elections in the country the parties that do not support the course to a radical budget cut won. These austerity measures are required by the EU and the IMF. Without their help the country would have been in default in March. The experts give different estimates as to what losses will the Europe economy go through in case Greece will cancel the euro. Thus, France assessed its losses in the amount of 50 billion euro. The British CEBR estimated the loss of the Eurozone countries at 2-5% of the GDP or 235-780 billion euro. The Germany could lose 90 billion euro.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback