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100 000 000 Drachmai Kefalonia - Ithaka
| Issuer | Bank of Greece (Ionian Islands Regional Issue) |
|---|---|
| Year | 1944 |
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| Shape | Rectangular |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | ΣΕΙΡΑ Α. ΑΡΙΘ. ΤΑΜΙΑΚΟΝ ΓΡΑΜΜΑΤΙΟΝ Έχον νόμιμον κυκλοφορίαν έν Κεφαλληνία καί Ίθάκη Δυνάμει τοΰ ύπ' άριθ. 6)5.10.44 Κυβερν. Διατάγματος τοΰ Κυβερνητικοΰ Άντιπροσώπου Ίονίων Νήσων ΔΙΑ ΔΡΑΧΜΑΣ 100.000.000 ΕΚΑΤΟΝ ΕΚΑΤΟΜΜΥΡΙΑ Έν Άργοστολίω τή 6 Όκτωβρίου 1944 Διά τόν Κυβερν. Άντιπρόσωπον Ό Διντής τοΰ Δημ. Ταμείου Διά τήν Τράπεζαν τής Ελλάδος |
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| Reverse lettering | ΤΡΑΠΕΖΑ ΤΗΣ ΕΛΛΑΔΟΣ ΑΡΓΟΣΤΟΛΙ 6 OCT. 1944 |
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| Comments |
The Ionian Islands regional issues of 1944 occupy a specific and uncomfortable corner of Greek wartime monetary history. While mainland Greece was under joint Axis occupation, the Ionian Islands fell under Italian administration — and when Italy collapsed in September 1943, German forces moved in. The Bank of Greece regional notes for Kefalonia and Ithaka were issued during this German phase, as the occupiers required a functioning local currency to extract goods and labor while the broader Greek economy was being destroyed by hyperinflation.
The 100,000,000 drachmai figure reflects how far the currency had collapsed by mid-1944. This denomination, unthinkable five years earlier, was routine by the time of issue.