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
Euro banknotes have become increasingly popular, and the European Central Bank has approved their printing. A popular addition to this series was issued in 2018 by the city of Trier, and shows Karl Marx, commemorating the bicentennial of his birth there. Euro banknotes Banknotes of the euro, the currency of the euro area and institutions, have been in circulation since the first series was issued in 2002. They are issued by the national central banks of the Eurosystem or the European Central Bank. In 1999 the euro was introduced virtually, and in 2002 notes and coins began to circulate. The euro rapidly