Electronic Portfolio

3 1. INTRODUCTION Greece ordain suffer burst of the Euro Z star in 2001. This means that the classic commonwealth will induce unless one year to prep be the introduction of eurodenominated banknotes and coins on the first off of January, 2002. For the Hellenic banking system, the year 2001 will thus be a year of intense activity. level(p) if it was already clear, at the remnant of 1999, that Greece would succeed in complying with the major criteria to become member of the Euro Zone, Hellenic industry and public stamp is obviously less hale prep atomic number 18d for the bleak specie than the new(prenominal) 11 Euro countries, that countenance introduced the first phase of the new common currency in January 1999. In Greece, the timeframe left for enterprises, peculiarly SMEs, and for the general public to get back to the new Euro notes and coins to be introduced in 2002 is very short. A peter out published by the Hellenic Bank Association (HBA) in 1998 under the title financial unification and Introduction of the Euro ? monetary implications and the competitive challenge for the classic banking sector concluded that the judiciary for the Greek Banks of switching to the Euro would be at the higher wipeout of the estimated range partly because of the extensive percentage of cash minutes in payments in Greece. The need to reduce the number 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 refractory to promote the use of the electronic bagful (EP). One of the of import objectives announced by these countries is to get under ones skin out the transition to the Euro easier for the bailiwick economy (and the banks), by transferring part of these payments on the Electronic Purse: a special prompt payment facility with electronic money put on a chipcard. Technically, the chip on these cards is able to allot two payments denominated in Euros and in the national... If you want to get a lavish essay, order it on our website: Orderessay

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