20 Drachmai

Greece was still at peace when this note was printed, but only just. Mussolini's ultimatum arrived in October 1940, and the Italian invasion followed hours later. Notes from this print run entered circulation against a backdrop of immediate wartime disruption, with the Bank of Greece soon under severe pressure to manage a currency that would ultimately be destroyed by Axis occupation inflation — among the worst hyperinflationary episodes of the twentieth century.

Giesecke & Devrient's Leipzig facility printed for numerous European central banks through the late interwar period. The same plant would be printing Reichsmark issues within months of this order.