Fascist Italy Occupation of Greece during World War II

The Axis Powers occupied Greece beginning in April 1941 when Fascist Italy and Nazi Germany invaded Greece.  The occupation lasted until October 1944 when Germany and Bulgaria withdrew their forces.  After the invasion in April, by June the Nazi’s administered Athens and Thessaloniki while other parts of Greece were given by the Germans to their partners Italy and Bulgaria. 

These notes were issued by the occupying Italian garrisons in Greece in 1941.  Shown below are occupation banknotes in denominations of 5 drachma (P--M1), 10 drachma (P-M2), 50 drachma (P-M3), 100 drachma (P-M4), 500 drachma (P-M5) and 1,000 drachma (P-M6) and 5,000 drachma (P-M7), 10,000 drachma (P-M8 and the 20,000 drachma (P-M9).  

The 5 drachma (P-M1), 10 drachma (P-M2), 50 drachma (P-M3) and 100 drachma (P-M4) notes bear a portrait of Hermes.

The 500 (P-M5), 1,000 (P-M6), 5,000 (P-M7), 10,000 (P-M8) and 20,000 (P-M10) drachma notes bear a portrait of Michael Angelo's David.