Another outcome was effectively allowing eurozone economies to leave, devalue, and then either come back in or to stick to their old pre-euro currencies such as the Greek drachma.
The procedure used to fix the irrevocable conversion rate of 340.750 between the Greek drachma and the euro was different, since the euro by then was already two years old.
While the conversion rates for the initial eleven currencies were determined only hours before the euro was introduced, the conversion rate for the Greek drachma was fixed several months beforehand.
