Greece the European Communities and the single market was signed, and the process was completed in 1982. Greece was accepted into the Economic and Monetary Union of the European Union on 19 June 2000, and in January 2001 adopted the Euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachma to the Euro. Greece is also a member of the International Monetary Fund and the World Trade Organization, and is ranked 24th on the KOF Globalization Index for 2013. By late 2009, as a result of a combination of international and local factors, the Greek economy
Euro Currency Index the index to fall from 29 June 2010 to 175.31 points. In the following months, the European Stability Mechanism was developed, which provides for mutual assistance in case of emergency to avoid the bankruptcy of the Member States. By May 4, 2011, the index rose to a level of 200.20 points. With the intensification of the sovereign debt crisis in the Euro zone, the Euro Currency Index fell 24 July 2012 with 168.38 points, its lowest level since March 29, 2006. Compared to the all-time high of 29 December 2008, this represents a decrease of 19.7 percent . The below