Greek withdrawal from the eurozone bank, the Bank of Greece) warned that "[a]n exit from the euro would lead to a significant decline in the living standards of Greek citizens." According to the announcement, per capita income would fall by 55%, the new national currency would depreciate by 65% vis-à-vis the euro, and the recession would deepen to 22%. Furthermore, unemployment would rise from its current 22% to 34% of the work force, and inflation, which was then at 2%, would soar to 30%. According to the Greek think-tank Foundation for Economic and Industrial Research (IOBE), a new drachma would lose half or more of
Greek drachma citizens" (for the head of a household in 355 BC). Earlier in 422 BC, we also see in Aristophanes ("Wasps", line 300–302) that the daily half-drachma of a juror is just enough for the daily subsistence of a family of three. A modern person might think of one drachma as the rough equivalent of a skilled worker's daily pay in the place where they live, which could be as low as US$1, or as high as $100, depending on the country. Fractions and multiples of the drachma were minted by many states, most notably in Ptolemaic Egypt, which minted large