Electronic Portfolio

3 1. INTRODUCTION Greece will become part of the Euro geographical zone in 2001. This means that the Hellenic Re world will make up un little one year to prep be the introduction of eurodenominated banknotes and coins on the foremost of January, 2002. For the Hellenic banking system, the year 2001 will thus be a year of intense activity. Even if it was already clear, at the death of 1999, that Greece would succeed in complying with the major criteria to become appendage of the Euro Zone, Greek industry and public opinion is obviously less salutary prepared for the new bullion than the other 11 Euro countries, that have introduced the first phase of the new common currency in January 1999. In Greece, the timeframe left for enterprises, e modifiedly SMEs, and for the general public to reconcile to the new Euro notes and coins to be introduced in 2002 is very short. A scan published by the Hellenic Bank affiliation (HBA) in 1998 under the title Monetary unification and basi s of the Euro ? monetary implications and the competitive challenge for the Greek banking sector cogitate that the court for the Greek Banks of switching to the Euro would be at the higher(prenominal) wipeout of the estimated range partly beca example of the large percentage of gold proceedings in payments in Greece. The need to reduce the subject of banknotes and coins in circulation is one of the reasons why other European countries where cash payments are frequent (i.e.

Germany, the Netherlands and Portugal) have decided to promote the use of the electronic Purse (EP). One of the main objectives announced by these countries is to start out the tra! nsition to the Euro easier for the national economy (and the banks), by transferring part of these payments on the Electronic Purse: a special immediate payment facility with electronic money be sick on a chipcard. Technically, the chip on these cards is competent to handle two payments denominated in Euros and in the national... If you want to gravel a lavish essay, order it on our website: BestEssayCheap.com

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