It looks like the drachma has resurfaced in Greece

The drachma is back.


On Saturday, a Bloomberg reporter’s credit card records listed a transaction at the Hilton Athens in “Drachma EQ,” instead of euro, which is the country’s currency.

Bloomberg reported Thursday that the amount on the statement was the same it would have been in euro.

A currency switch is viewed as the absolutely worst case scenario in Greece’s bailout crisis.

An exit from the euro could very well mean that it has to dump the currency and revert to the drachma, a process that is likely to be a logistical nightmare. Currency changes usually require several months of planning and the wide support of the people who are going to use it — something Greece isn’t guaranteed.

The drachma is also likely to start out very weak against the euro; with all of Greece’s economic challenges it’s not a currency investors would want to pile on.

Bloomberg noted that the currency on the statement was switched to euro after the reporter started making calls about the error.

So, potentially just a Freudian slip, but with tensions high in Athens people are noticing everything.

Head over to Bloomberg for the full story ยป

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