1 Drachma #216

Front

Liberation Issue 1 Drachma note issued in Athens in November 1944, immediately following the liberation of Greece from Axis occupation. The inscription 'ΠΛΗΡΩΤΕΑ ΕΠΙ ΤΗ ΕΜΦΑΝΙΣΕΙ Ο ΥΠΟΥΡΓΟΣ ΤΩΝ ΟΙΚΟΝΟΜΙΚΩΝ ΕΝ ΑΘΗΝΑΙΣ ΤΗ 9 ΝΟΕΜΒΡΙΟΣ 1944' translates to 'Payable upon presentation by the Minister of Finance in Athens on 9 November 1944'. This emergency currency was issued by the newly restored Greek government to replace the hyperinflated occupation drachma and stabilize the economy after four years of Axis rule.

Back

Phoenix rising from flames, a powerful symbol of Greece's rebirth and resurrection following liberation from Nazi occupation in October 1944. The phoenix, a creature from Greek mythology that cyclically regenerates by rising from its own ashes, was chosen to represent the renewal of Greek sovereignty and the restoration of democratic governance after years of occupation and collaboration governments. The imagery directly reflects the national sentiment of revival and independence regained.

History

This note belongs to the Liberation Issue series of November 1944, issued immediately after German forces withdrew from Greece in October 1944. The series was emergency currency printed to address the severe hyperinflation caused by the occupation authorities, who had printed massive quantities of drachmas to finance their occupation costs. The Greek government issued this new series denominated in low values (1, 5, 10, 25, 50, 100 drachmas) as a stopgap measure before monetary reform could be implemented. These notes had extremely short circulation periods and were quickly replaced by subsequent issues as Greece struggled with post-war economic chaos and civil conflict. The phoenix motif was a deliberate choice to symbolize national rebirth.