ECONOMY

Drachmas in mattresses and drawers add up to 477.9 million euros

drachmas-in-mattresses-and-drawers-add-up-to-477-9-million-euros

The drachma banknotes and coins hidden or forgotten in houses around Greece equal 477.9 million euros, even though it has been two decades since the minting and circulation of the first euros, according to a Bloomberg report.

The Greeks are no exception in the eurozone, as many Europeans hold on to their obsolete national currencies in purses, bags, drawers and even mattresses.

Therefore the sum of national currencies abandoned in the eurozone is seen amounting to several billion euros, with €8.5 billion of that still possible to be exchanged for euros, mainly in Germany: The Bundesbank will indefinitely trade marks for euros.