Greece - Third Hellenic Republic

The fall of the Greek military junta in 1974 marked a turning point in the history of Greece. This marked the end of a seven-year dictatorship and the beginning of the Third Hellenic Republic, which aimed to restore and consolidate democracy. After the fall of the junta, a national unity government was formed under the leadership of Konstantinos Karamanlis. The government's primary task was to restore democratic institutions. As part of this: A new constitution was adopted in 1974, which laid the solid foundations for a parliamentary republic. Free and fair elections were held, in which Karamanlis' New Democracy party won. The restrictions on political freedoms imposed by the junta were lifted. The army was brought under civilian control. Significant changes also occurred in Greece's foreign policy during this period. The country withdrew from NATO's military wing due to the Cyprus crisis and began negotiations to join the European Economic Community (EEC). The Panhellenic Socialist Movement (PASOK) led by Andreas Papandreou won the 1981 parliamentary elections. This marked a major political shift and opened a new era in Greek history. Under PASOK: Several social reforms were introduced, including the establishment of a welfare state and the expansion of workers' rights. Greece joined the EEC in 1981, which marked significant economic and political integration with Europe. In foreign policy, Greece took a more active role in international organizations and regional cooperation. In the following decades, the two major parties, New Democracy and PASOK, alternated in governing Greece. The country has achieved economic development, but has also struggled with structural problems, such as high public debt and bureaucracy. In the early 2010s, Greece entered a severe economic crisis. This led to serious social tensions and political changes. The austerity measures strengthened smaller, more radical parties. The 2015 elections were won by the left-wing Syriza party, led by Alexis Tsipras. The Syriza government tried to resist the austerity measures imposed by international creditors, but was ultimately forced to accept another bailout. The 2019 elections were won by New Democracy, led by Kyriakos Mitsotakis. The current government focuses on boosting the economy and establishing stability. The Third Hellenic Republic was a period of consolidation of democracy, economic and social modernization, and European integration. The country faced many challenges, especially during the economic crisis, but democratic institutions maintained their stability.

Since its establishment in 1974, the Third Hellenic Republic has used two main currencies: the Greek drachma (1974–2001) and the euro (2002–present). After the fall of the military junta in 1974, the Greek drachma remained the official currency. During this period, a number of coins were issued in various denominations and materials. The Leptos (1, 2, 5, 10, 20, 50) and drachmas (1, 2, 5, 10, 20, 50, 100, 500). Aluminum, aluminum-bronze, cupro-nickel, nickel-bronze. The coins often depicted historical figures (e.g. Aristotle, Homer, Pericles), mythological figures (e.g. Athena's owl), national symbols, and modern themes (e.g. ships). The 1 and 2 lepto coins were never put into circulation. In 1982, the plural of drachma was changed from "drachmai" to "drachmes". Greece joined the eurozone in 2001, and the euro replaced the drachma on 1 January 2002. The national side of Greek euro coins features three different designs per denomination, each by sculptor Georges Stamatopoulos: 1 and 2 euro: Mythological themes (Zeus and Europa, owl from a 5th-century BC drachma of Athens). 10, 20 and 50 cents: Notable Greek politicians (Eleftherios Venizelos, Ioannis Kapodistrias, Rigas Fereos). 1, 2 and 5 cents: Greek ships (modern tanker, corvette, Athenian trireme). The history of Greek coinage since 1974 reflects the country's political and economic changes, respect for national identity and historical heritage.