Greek drachma exchanged for new ones at the rate of 50,000,000,000 to 1. Only paper money was issued. The government issued notes of 1, 5, 10 and 20 drachmae, with the Bank of Greece issuing 50-, 100-, 500-, 1000-, 5000-, and 10,000-drachma notes. This drachma also suffered from high inflation. The government later issued 100-, 500-, and 1000-drachma notes, and the Bank of Greece issued 20,000-and 50,000-drachma notes. In 1953, in an effort to halt inflation, Greece joined the Bretton Woods system. In 1954, the drachma was revalued at a rate of 1000 to 1. The new currency was pegged at 30
Croatia and the euro one month before Croatia's EU entry governor Vujčić admitted "...we have no date [to join the single currency] in mind at the moment". Before Croatia can join ERM II, it must reduce its budget deficit by about 1.5 billion kuna (June 2013 figures). The European Central Bank was expecting Croatia to be approved for ERM II membership in 2016 at the earliest, with euro adoption in 2019. Many small businesses in Croatia had debts denominated in euros before EU accession. Croatian people already use the euro for most savings and many informal transactions. Real estate, motor vehicle and accommodation prices