The Greek Ambassador (Diamantopoulos) to the Secretary of State 68

No. 4111

The Ambassador of Greece presents his compliments to His Excellency the Secretary of State and has the honor to inform that he has been officially advised that monetary stabilization in Greece has been enacted by law and that a new currency has been issued and put into circulation on November 12. The relation of the new drachma to the dollar is 150 drachmas for a dollar and 600 drachmas for an English pound. The old drachmas in circulation, of any issue, will be exchanged for new drachmas to the rate of 50 billion old drachmas for a new drachma.

With reference to the conversations that the Ambassador had with Mr. Dean Acheson, Assistant Secretary of State, on the matter,69 he would appreciate it if the necessary steps would be taken in order to expedite the fulfilment of necessary formalities so that remittances to Greece be made possible.

  1. Marginal notation by Harold R. Spiegel of the Division of Financial and Monetary Affairs on November 30: “Oral acknowledgment made to Greek Ambassador by Kohler NE who suggested in telephone conversation that no further response necessary till something develops on remittances”.
  2. See memorandum of October 28, p. 223.