Places emphasis on policy decision-making in Greece in the 1940s which resulted in an extraordinary long fifty months hyperinflation. Throughout the entire period, the government of Greece was financed mainly from seigniorage, and barely at all from fiscal taxation. The author asks how this was contrived over so long a period without destroying the tax-base afforded by the transactions demanded for flat money. The book is, however, far more than an extended analysis of monetary economics. Rather it explores the history and structural basis for the policies pursued by the occupation and liberation governments of Greece, and their interactions with the policies of the Axis and later, British authorities. For sources, the work draws heavily not only on the existing literature, but also on the Bank of England and British Treasury papers of the period. Dr Michael Palairet is a lecturer at Department of Economic and Social History, University of Edinburgh.
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drachma exchange rate, new drachma, old drachmas, billion drachmas, gold action, occupation payments, stabilisation plan, million drachmas, liberation government, gold sales, alternative currency, real money supply, transactions portfolio, renewed inflation, fiat money, liberation period, real money balances Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bank of Greece, British Treasury, Rex Leeper, Sir David Waley, Foreign Office, Bank of England, World War Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
drachma exchange rate, new drachma, old drachmas, billion drachmas, gold action, occupation payments, stabilisation plan, million drachmas, liberation government, gold sales, alternative currency, real money supply, transactions portfolio, renewed inflation, fiat money, liberation period, real money balances Key Phrases - Capitalized Phrases (CAPs): (learn more)
Bank of Greece, British Treasury, Rex Leeper, Sir David Waley, Foreign Office, Bank of England, World War Browse Sample Pages:
Front Cover | Front Flap | Table of Contents | First Pages | Index | Back Flap | Back Cover | Surprise Me!
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