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
Denmark and the euro currency at a later stage on the same terms as those applying to the initial euro area member states." A referendum held on 28 September 2000 rejected membership of the eurozone. 87.6% of eligible voters turned out, with 46.8% voting yes and 53.2% voting no. Most political parties, media organisations and economic actors in Denmark campaigned in favour of adopting the euro. However, a couple of major parties campaigned against. Had the vote been favourable, Denmark would have joined the eurozone on 1 January 2002, and introduced the banknotes and coins in 2004. The immediate run-up to the referendum saw