Word: drachma
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Dates: during 1940-1949
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Athens, outwardly calm and even prosperous, was gripped by growing uneasiness. Late into the night, Athenians crowded open-air cafés, sipping Turkish coffee and talking about the still-falling drachma, the bad Government, the bad opposition, all the daily disasters. Few bothered to talk about U.N. Said one of them: "First we believed U.N. would end power politics. Now nobody is satisfied. The left feels that the Greek question is an internal problem, but U.N. disagrees. The right feels that the Greek question is an international problem, but Gromyko disagrees...
...ardently pro-Greek. By implication, the film pleads for continuing UNRRA relief, increased U.S. sympathy and support, a free expression of popular opinion in the coming Greek general elections. Most eloquent shot: two small, hungry Greeks ratting around the trash of a city dump, pushing aside worthless, repudiated drachma notes in their search for something...
...like one. Anthony Eden and Harold Macmillan recommended him to the Greek Government as the man who could most likely stabilize the country's economy. Already he can point to several notable achievements. The cost of living has declined 30% despite the fact that Varvaressos has devaluated the drachma and raised wages...
Shops all over Athens were closing as the drachma skidded from 1¼ trillion to 2½ trillion for a U.S. dollar. Early last month, facing the worst inflation in Europe (TIME, Nov. 6), the Greek Government issued new drachma notes based on gold. Then it levied a tax of 1,500 gold pounds (about $8) on each of the country's one thousand richest citizens to get additional backing for the currency. By last week the gold cure seemed to be working. In general, prices had stabilized. Cheese, butter and eggs were still high in Athens, but prices...