Despite talk of the bitcoin, Greek banks have actually been preparing for a return to the drachma for years. Were a hypothetical Grexit to take place, the previously decommissioned currency would not be used but new banknotes based on the old design would most probably be printed.

Centrist To Potami MP Harry Theoharis tweeted on Monday night that there’s a team from the General Accounting Office at the Greek government’s headquarters preparing a plan for the return of the drachma. His tweet echoes a series of conspiracy theories around since the outbreak of the Greek economic crisis. Truth or not, having a back-up plan for a return to the drachma in the government’s first aid kit would be sensible despite the government’s insistence that “no” is not “yes” to a Grexit and Finance Minister Yanis Varoufakis’ statements that Greece would take recourse to the European Court of Justice.

British Museum’s Thomas Hockenhull told the BBC that it could be a straightforward process to chage the dates anduse the existeing machinary if the original drachma printing plates still exist.

But, for those who are feeling nostalgic, there would be consequences:

* Rapid devaluation of the drachma against other currencies
* Skyrocketing inflation
* Capital flight
* Higher interest rates leading to market suffocation
* Shortage of essential items as imports are cut
* Freeze in wage/pension payments until liquidity is restored
* GDP would shrink to even lower levels!
* Public debt would automatically explode – new rescue packages would be required taking Greece back to Square 1
* Diplomatic and financial isolation of Greece

On the plus side, Greece would – after extreme pain and suffering – have greater sovereignty and be given the freedom to maneuvre its own economy without restrictions placed by those who have vested foreign interests.

Some suggestions if the drachma were to return:

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