(n.) A silver coin among the ancient Greeks, having a different value in different States and at different periods. The average value of the Attic drachma is computed to have been about 19 cents.
(n.) A gold and silver coin of modern Greece worth 19.3 cents.
(n.) Among the ancient Greeks, a weight of about 66.5 grains; among the modern Greeks, a weight equal to a gram.
Example Sentences:
(1) The following day, politicians and eurocrats began scrambling to hammer out a larger rescue package for Greece: 28 April 2010 Photograph: Guardian That was the time when puns about Acropolis Now, and ‘making a drachma out of a crisis’ were in vogue: Greek debt crisis, 28 April 2010 Photograph: Guardian But there wasn’t much time for jokes.
(2) It looks confusing to start now.” Stathopoulos said young people should think twice before encouraging the government to take Greece out of the euro and return to the drachma.
(3) The exchange rate of the new drachma would collapse in the open markets, making it difficult to secure supplies of oil, medicine, foodstuffs and other goods.
(4) Greece's economy has been in the balance for months, but the seeds of the crisis were sown a decade ago 1 January 2001: Greece joins the euro Having been left out when the single European currency began at the beginning of 1999, Greece becomes the 12th member two years later after dramatically cutting inflation and interest rates, and bringing the drachma smoothly into line with the euro.
(5) A newly minted drachma would be low enough to attract holidaymakers, but without the investment in new hotels, the industry could barely cope.
(6) The question on Sunday is not between the euro and the drachma, but between the continuation of these policies or salvation from the greatest destruction a people have experienced in peacetime.
(7) Chrissa, who has been in London for two years, says the transition from drachma to euro ratcheted up prices for no real reason beyond the fact that everyone was on the make.
(8) Germany's bestselling paper, Bild, which has handed out drachmas in Athens and urged Greece to sell an island to help pay off its debt, trumpeted: "For 90 minutes it will be about more than just football.
(9) Even if the Greek government decides to pay wages and pensions by printing its own IOUs or “new drachmas”, the European court of justice will rule that all domestic debts and bank deposits must be repaid in euros.
(10) The fact that there is no real appetite for having the drachma back means that a referendum could be won.
(11) It is almost certain to bring more misery to a country where half a decade of austerity has crippled the economy and left 50% of young people without work, but there was widespread fear that returning to the drachma would be even more damaging.
(12) Greece's latest attempt to reach deal with creditors collapses Read more As Greece’s choice comes ever more sharply into focus – between opting to stay in the eurozone and experiencing yet more austerity, or defaulting on its repayments and possibly returning to the drachma – some economists have also suggested, as an interim measure, a halfway house parallel currency that would involve government IOU notes and tax credit certificates.
(13) On day one it suggested that one drachma should be worth the same as a euro, with wages, prices, loans and deposits redenominated one for one.
(14) Greece’s debts would be repaid in a drastically devalued drachma, if they were repaid at all.
(15) Drachmas worth around 10% of the euro are distributed by local banks, which are nationalised to stop them going bust.
(16) JPMorgan Chase has created new accounts for a handful of American giants that are reserved for a new drachma in Greece or whatever currency might replace the euro.
(17) Briefly put: the return to the drachma should be sudden, accompanied by a short bank holiday and immediate imposition of capital controls.
(18) With no drachma to punish for Greece's financial mismanagement, those foreign exchange traders seeking to profit from the situation have instead shorted the euro – a move which threatens the stability of all the countries in the eurozone.
(19) If an agreement can’t be reached, Greece might well go back to the drachma.
(20) Icap, the City currency broker, is ready to reintroduce a drachma trading facility by installing a new panel on its electronic screens.
Greece
Definition:
(pl. ) of Gree
(n. pl.) See Gree a step.
Example Sentences:
(1) 2010 2 May : In a move that signals the start of the eurozone crisis, Greece is bailed out for the first time , after eurozone finance ministers agree to grant the country rescue loans worth €110bn (£84bn).
(2) For months, more than 170,000 mainly Syrian refugees travelling north from Greece have used Hungary as a thoroughfare to the safety of northern and western Europe.
(3) In Europe, for example, the basket of goods tested has fallen 18% in Greece (Corfu) to £57.50, making prices a third cheaper than Italy (Sorrento) at £87.06, the most expensive of six eurozone destinations surveyed.
(4) Samaras said: A "Grexit", as it is called, would be devastating for Greece and detrimental to Europe.
(5) There are no more parties, there is only Greece," said Markos Bolaris, the new deputy health minister and close ally of the former prime minister George Papandreou .
(6) The industry wants the health ministry to bring in a new pricing system so that Greece uses a basket of eurozone countries to calculate prices.
(7) Sadly, the bullet will not only kill off Greece’s future in Europe.
(8) In addition, the UK government will provide further resources to the European Asylum Support Office to help Greece and Italy identify migrants, including children, who could be reunited with family members elsewhere in Europe.
(9) All of the parties have been trying to use Greece to their advantage.” On Monday, the governing People’s party pointed to the referendum to justify their decision to impose austerity measures during the height of the economic crisis.
(10) Greece sincerely had no intention of clashing with its partners, Varoufakis insisted, but the logic of austerity was such that policies conducted in its embrace could only fail.
(11) While Greece struggled to find a new leader, the spotlight turn dramatically to Italy.
(12) As Greece pleads with its eurozone creditors for more time in meeting its fiscal adjustment targets, Dombrovskis is a fierce champion of surgical austerity applied quickly and ruthlessly.
(13) We performed a study of this type in the small town of Lari (Pisa) with the objectives of estimating the prevalence of mental disorders, including "minor" disorders, and of comparing our estimates with similar studies carried out in UK and Greece using identical methods (PSE-IX and CATEGO).
(14) Greece standoff over €86bn bailout eases after Brussels deal Read more But while the bailout chiefs are poised to agree on a route map, the journey for the Greek people seems no less long and arduous.
(15) Edwards pointed to Greece, which he said simply does not have the capacity to cope with the number of arrivals it is receiving and needs massive international help.
(16) That’s precisely the point made by Jubilee Debt Campaign: the reckless lenders that poured speculative cash into the country in the runup to the crisis escaped largely unscathed (though they were forced to accept some reduction in the face value of their bonds – known as a haircut – in the 2012 restructuring that accompanied Greece’s second emergency bailout).
(17) Couldn't the rest of the eurozone just let Greece default on its debts?
(18) The last major international bank with branches nationwide, Citi announced it would close all of its network presence outside of Greece’s two major cities, Athens and Thessaloniki.
(19) Then Greece has another chance.” But the intervention by the IMF will undermine EU leaders who argue Greece must submit to a fresh round of austerity measures to release funds for debt repayments.
(20) But Erik Britton, of City consultancy Fathom, said: "The LTRO [long term refinancing operation] and all those things, all it's done is bought a bit of time, but it hasn't addressed the structural problems, even slightly, even for Greece."