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This is the anecdotal part of my diary.

When drachmas were traded for euros, you could not buy a souvlaki for the same relative price you used to buy it for. Whatever the conversion rate (and I'm given to understand that the conversion rate was beneficial for countries moving into the zone, a soft landing if you will) the end result was hyperinflation of goods (masked, of course, by the lack of statistics to account for the inflationary impact of conversion. If a souvlaki cost 100 drachmas on Monday, and I traded 100 drachmas for 1 euro on Tuesday, I'd return to the stand on Wednesday to see that the souvlaki now cost 2 euros.

by Upstate NY on Fri Feb 12th, 2010 at 09:59:59 AM EST
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