1986 | OriginalPaper | Chapter
Greece and the European Monetary System
Author : Anna N. Manassakis
Published in: Greece and the EEC
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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After a drastic reform of its foreign exchange and international trade system on 9 April 1953, Greece maintained a policy that was pegged to the dollar for about twenty years (until 19 October 1973). Following the breakdown of the Bretton-Woods system of fixed parities, the country operates a heavily managed floating regime where the exchange rate of the Greek drachma is adjusted on a daily basis.