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The History ofMONOPOLIO

-WATERFRONT-
Apartment Zakynthos

Once upon a time in the late 1800’s, on the exact location in which our Apartment is located today, there used to be the Greek Monopoly of Zakynthos.

Subsequent to Greece’s bankruptcy and its defeat in the Greco-Turkish war in 1897, a war compensation was imposed upon the country as well as an International financial audit. As a result, Greece was inevitably forced to take out a loan to contend with its economic situation and to finance the compensation.

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In order for the lenders to ensure that they would have their money returned, they imposed a clause within the conditions of the loan stating that they would directly receive the profits specifically deriving from the sale of main products: petroleum, matches, salt, cigarette rolling paper, and playing cards.

The sale of these products was thereafter permitted only by the Hellenic Government Monopoly. State-operated concession units were then established everywhere in the Country with a purpose to only sell the products in question intending for the profits to be allocated by the Greek State, directly to the creditors.

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Therefore, in respect to history and given that the Zakynthian Monopoly was located specifically on the same land on which our Apartment is situated today, we thought it best to baptize it the ‘MONOPOLIO WATERFRONT APARTMENT’.

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For more information about the history of Monopolio -WATERFRONT- Apartment, do not hesitate to contact us.

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