Banknote producer prepares for potential Greek currency

Banknote producer De La Rue has drawn up contingency plans to print drachmas should Greece exit the euro and approach the British money printer.

A source said that as a commercial printer De La Rue needed to be alive to the possibility of a Greek exit from the single currency and prepare accordingly.

Panmure analyst Paul Jones said the firm would be in with a chance of work if extra capacity was needed and could also benefit from other work as Greek printers were less likely to be quoting for contracts elsewhere.

“If they (Greece) decide to pull out of the euro the first thing is it won’t be an overnight job, partly because of the implications of what they are trying to do but secondly because of the sheer number of banknotes that are needed to replace a currency,” Jones said.

“It will be a huge job which the state printing works will do, but they will probably pull in some additional volume from outside and De La Rue will be in with a chance.”