Greece took longer than many other European nations to recover from the devastation of World War Two
Greece’s economy suffered a great deal during the occupation by Axis countries in World War Two. It had already felt the impact of several attacks in late 1940 before being overwhelmed in the spring of 1941.
The occupiers took raw materials, livestock and food, and the puppet government was forced to shoulder the costs of occupation.
A drop in agricultural production led to severe shortages of food in the main cities and a period known as the Great Famine. Dwindling tax collection contributed to rising inflation, which reached a peak of 13,800% a month in November 1944.
Although price hikes weren’t as intense as in post-war Hungary or Germany, Greece’s stabilization efforts went on for longer. After liberation came in October 1944, the government made three attempts over eighteen months before reaching some stability through fiscal reform. loans and a new currency.
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Hyperinflation in Greece 