Introduction
The creation of a national currency was one of the most pressing issues for the newborn Greek state, so that the monetary chaos reigning in the country could subside. Prior to the phoenix's introduction, transactions were settled with a wide variety of coins, including the Turkish kuruş; coins from major European states, such as France, Britain, Russia and Austria-Hungary were also popular. Therefore, minting the phoenix was one of Governor Kapodistrias' greatest priorities, and he signed a decree authorising it on the 12th of April 1828. The Russian government lent Kapodistrias' administration 1.5 million rubles to start the project.
Read more about this topic: Greek Phoenix
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