1926, Greece (2nd Hellenic Republic). Copper-Nickel 2 Drachmai Coin
Mint Year: 1926 References: KM-70. Denominations: 2 Drachmai Material: Copper-Nickel Diameter: 27mm Weight: 7.35gm
Obverse: Helmeted head of Athena left. Reverse: Value and denomination surrounded by legend. Date (.1926.) below.
The Second Hellenic Republic (Elliniki´ Dimokratía), is the term used to describe the political regime of Greece from 1924 to 1935. It followed from the period of the constitutional monarchy under the monarchs of the House of Glücksburg, and lasted until its overthrow in a military coup d'état which restored the monarchy. The Second Republic marks the second period in modern Greek history where Greece was not headed by a king, with the assemblies and provisional governments of the Greek Revolution being regarded as the First Republic.
The Second Republic was proclaimed on 25 March 1924, in the aftermath of Greece’s defeat by Turkey in the Asia Minor Campaign, which was widely blamed on the royalist government. During its brief existence, the Second Republic proved unstable. Greek society continued to be divided, as it was since the National Schism, between the pro-Republican Venizelists and the monarchists represented by the People’s Party, who refused to acknowledge even the legitimacy of the Republic.
The cleavage in society extended to cultural and social issues such as differences over the use of Greek language to architectural styles. To this polarization was added the destabilizing involvement of the military in politics which resulted in several coups and attempted coups. The economy was in ruins following a decade of warfare and was unable to support the 1.5 million refugees from the population exchange with Turkey.
Despite the efforts of the reformist government of Eleftherios Venizelos in 1928-1932, the Great Depression had disastrous impact on Greece’s economy. The electoral victory of the People’s Party in 1933, and two failed Venizelist coups, paved the way to the restoration of the reign of King George II.