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5000 Drachmai Italian Occupation
| Issuer | Cassa Mediterranea di Credito per la Grecia |
|---|---|
| Year | 1941 |
| Type | Log in to see details |
| Value | 5000 Drachmai (5000 δρᾰχμαί) |
| Currency | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BIGLIETTO A CORSO LEGALE PER LE ISOLE JONIE ΧΑΡΤΟΝΟΜΙΣΜΑ ΕΧΟΝ ΝΟΜΙΜΟΝ ΚΥΚΛΟΦΟΡΙΑΝ ΕΝ ΤΑΙΣ ΙΟΝΙΟΙΣ ΝΗΣΟΙΣ DRACME 5000 ΔΡΑΧΜΑΙ IL TESORIERE |
| Reverse description | Log in to see details |
| Reverse lettering | ISOLE JONIE ΔΡΑΧΜΑΙ 5000 DRACME |
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| Comments |
The Cassa Mediterranea di Credito per la Grecia was a parallel currency mechanism created by Italian occupation authorities in 1941 specifically to extract resources from Greece without drawing on Italian lire reserves. It was not a bank in any functional sense — it issued occupation currency that Greeks were compelled to accept, while the occupiers used it to pay requisitions at rates they set themselves.
Greece suffered one of the worst hyperinflationary collapses of the war years as a direct consequence of this arrangement. By late 1944, the drachma had become functionally worthless. The 5000 denomination, enormous by 1941 standards, was already insufficient before the series had finished circulating.