EXPENSIVE.
—- 1 * To Live in Greece. FOREIGNERS’ TROUBLES. BY CABLE—PRESS ASSN.—COPYRIGHT (Received 8 p.m., May 29.) Athens, May 29. The whole economic life of Greer-., lias been upset this week owing to tlie fall of the pound from 400 drachmas to 250. Enormous gambling operations by a few speculators caused fluctuations which induced almost everyone in Greece to try a new form of gambling, done without cash on the bull and bear principle. The bears ultimately took control of Lonegal and a panic ensued, and enormous sums were lost. It is feared that the Government will be unable to collect taxes imposed on a basis of 400 drachmas to tlie £l. Bankers agree that tlie economic value of the pound should be about 300. Foreign residents now find Greece one of the most expensive instead of tlie cheapest countries. —A. and N.Z. Cable.
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Bibliographic details
Timaru Herald, Volume XCVIII, Issue 18084, 30 May 1923, Page 9
Word Count
143EXPENSIVE. Timaru Herald, Volume XCVIII, Issue 18084, 30 May 1923, Page 9
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