2 Drachmai

Printed by G. Aspioti in Corfu rather than Athens, this note reflects the severe disruption to Greek central printing capacity during the First World War. Aspioti was primarily a commercial printer and insurance stationer — the firm's full name, Ασφαλιστική Γ. Ασπιώτη, literally signals an insurance business — yet wartime necessity pushed it into banknote production.

The 1918 small-denomination issues were partly a response to acute coin shortages, with bronze and nickel hoarded across the country as the war dragged on. Corfu itself had recently served as the refuge of the Serbian government-in-exile following the 1916 retreat, adding to the island's unusual wartime administrative weight.