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
Language and the euro and a 50 euro banknote is called ("penintariko"), derivatives of the words for ten, twenty and fifty. 10 lepta of a drachma were called ("dekara"), but since lepta of the drachma were out of circulation long before the euro, this word is now considered too old-fashioned and only used in old expressions and thus it is not used for the 10 eurocent coin. Nevertheless, all Greeks understand the word to stand for 10 cents of any currency and thus use it for non-euro currencies like the dime of the US dollar. The same is true for the 5-cent coin which