The Japan Times WORLD EYE REPORTS GREECE
©THE JAPAN TIMES	Saturday, February 22, 2003

Let the new golden age begin The first decade of the 21st century will arguably be the most crucial in the history of modern Greece. In the next few years, the country will take on a great number of challenges which it is hoping will signal the beginning of a new golden age. Riding the wave of an unprecedented period of strong growth, the Greek economy is brimming with self-confidence and optimism as it continues to close in on its European counterparts. Athens' hosting of the XXVIIIth Olympiad in 2004 is a great honor the country eagerly awaits. The physical infrastructure of Greece is being transformed, and the entire country is undergoing massive modernization and expansion to become more accessible to the rest of Europe and the global community. At the start of this year, Greece assumed the presidency of the European Union a position it has not held since 1994. The country has remained relatively isolated since the end of the Cold War. Reconnecting with its western and northern neighbors will be a primary issue on its agenda.

The online version of Greece's leading daily English-language newspaper, Kathimerini. Provides information on lifestyle, entertainment, local and international news. Covers all aspects of business and finance in the region, including daily coverage of the Athens Stock Exchange. www.ekathimerini.com The official Web site of Greece contains everything you need to know about the country. Visit the well-planned site for information on Greek politics, business, culture, travel, lifestyle, environment and geography. www.greece.gr The Japanese embassy in Greece offers general information on its Web site. It may be viewed in English, Japanese and Greek. It contains useful information about relations between Greece and Japan and Japan's involvement in the Balkan countries -- as well as press releases and helpful links. www.gr.emb-japan.go.jp The Japan External Trade Organization (JETRO) established an office in Athens in 1965. Its mission is to continuously develop economic trade relations of mutual benefit between Greece and Japan. JETRO Athens also houses the Greek-Japanese Chamber of Commerce that was established in 2000. The collaboration of the two organizations enhance and promote increasingly close trade relations between the two countries. www.jetro.gr eBox

The magnificent Parthenon looks over a city and country anticipating an extraordinary 2004

Prime Minister Costas Simitis and his government are planning to use Greece's unique character and heritage to move forward on a number of other issues, including the difficult situation in Cyprus and the possible admission of Turkey into the EU. FULL STORY

On the road to real convergence World Eye Reports met with Nicholas Garganas, governor of the Greek central bank, and talked about the challenges facing the country on the way to real convergence within the euro zone. Garganas spoke about the need for further liberalization while stressing Greece's remarkable performance in the face of the global slowdown. WER: What are your personal views on Greece's economy and financial position? Where is it headed? How are you enhancing the market infrastructure? FULL STORY

Nicholas Garganas, governor of the Greek central bank

Nicholas Nanopoulos, CEO of EFG Eurobank Ergasias

Greece's local bank looks beyond its borders Banking services are expanding in Greece at a faster rate than in the rest of Europe because market penetration is still relatively low here. The banking sector in Greece remains highly concentrated, with the top five banks controlling 75 percent of the market. One of the top five - EFG - aims to be the Greeks' "bank of choice" by taking special care of its customers. In a time of increasing competition in the financial sector and unstable stock market conditions, EFG Eurobank Ergasias has been able to achieve sustained profitability by expanding its market share and earning international recognition. EFG is the third largest banking group in Greece in terms of its size and balance sheet, but it is the largest bank in terms of market capitalization. Its CEO, Nicholas Nanopoulos, says: "We consider ourselves a local player. Our philosophy is to be the bank of choice for the Greek people." FULL STORY

Greece Official country name: Hellenic Republic Capital: Athens Government type: Paliamentary Democracy Total area: 131,940 sq. km Population: 10.9 million Literacy rate: 95 percent Currency: euro Average exchange rate: $1=E 0.92 GDP: 116.3 billion euros GDP growth rate: 4 percent Unemployment: 9.6 percent Inflation: 3.5 percent Imports: 34.5 billion euros Exports: 13 billion euros Major export products: olives, olive oil, grapes, peaches, tomatoes, oranges, tobacco, cotton and wine

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