Greece

This information will be updated periodically but it also includes some materials, for example the dual circulation periods, which are no longer relevant but have been retained for reference purposes. The date that this information was last updated is at the bottom of the page.

Greek Government euro web site:
www.euro-hellas.gr (Greek)

Pricing

Banking

Business Preparations

Retail

Public Sector

General Public

Information Activities

Other Links and Sources

Pricing

Consumer Prices
The following table shows the annual percentage change on the same month in the previous year.

Banking

Drachma notes may be exchanged at national bank for 10 years and drachma coin for 2 years;

Central bank at:
www.bankofgreece.gr/en (some English available)

Business Preparations

The percentage of SMEs who had changed over to euro on 1 January 2002 for:

	accounting systems	97 per cent
	prices	98 per cent
	invoicing	98 per cent
	computer systems and IT	91 per cent

Overall SMEs considered that the changeover to the euro:

	had been easier or much easier than they planned	46 per cent
	proceeded as they planned	50 per cent
	had been more difficult than expected	49 per cent

14 per cent of SME's had encountered practical difficulties when changing over to the euro.

When converting prices from national currency to the euro the percentage of SMEs who had:

	converted prices some upwards and some downwards	10 per cent
	converted prices on a neutral basis	68 per cent
	converted prices upwards	5 per cent
	converted prices downwards	17 per cent

EB Eurobarometer Survey EB122

Retail

The Ministry of Development signed an agreement with trade organizations aimed at preventing increases in goods and services by rounding in favour of the consumer ECSR.

Public sector

Legislation: September 2000 Greece adopted basic law on euro introduction covering conversion and rounding, share capital, dual pricing, capital market rules and conversion of fines and penalties. Joint decree of Ministry of Finance and Ministry of Development set up a euro observatory and circulars from the Ministry of Finance dealt with tax and customs issues. Greek government securities already converted to euros. Ministry of development issued a circular on conversion of share capital. Ministry of National Economy has issued a circular prohibiting price increases in public sector and covering conversion and rounding to the benefit of the consumer. Law on introduction of euro and withdrawal of drachma was adopted in September 2001.

ECSR

General Public

	86 per cent felt that the introduction of the euro went well or fairly well.
	88 per cent felt that the changeover to the euro went without any difficulties or with some temporary difficulties for them personally and 85 per cent for everyone.
	69 per cent said that they found it easy to remember prices in euro, 67 per cent compare prices in euro and 79 per cent to understand bills in euro.
	53 per cent thought that dual pricing of goods was essential or fairly useful.
	For dual pricing in shops:

	7 per cent thought that prices when converted to euro had either not been rounded or had been rounded down.
	When asked which organisations had helped the most.
	37 per cent thought the media
	9 per cent thought shops and other retailers
	16 per cent thought the banks
	2 per cent thought consumer or other representative groups
	38 per cent thought family and friends

Information Activities

Other Links and Sources

European Commission:
www.europa.eu.int/index_en.htm (all EU languages for most documents)

European Central Bank:
www.ecb.int (All EU languages for most documents)

Foreign and Commonwealth Office, Embassy site:
http://www.british-embassy.gr/

For information for travellers, including business travellers, click here to see the joint FCO/HMT/DTI Government leaflet "Euro notes and coins and how they will affect you" on this site.

Sources:
ECSR European Commission Second Report: 10 October 2001
Second report on the preparations for the introduction of euro notes and coins
EB Eurobarometer survey E121 January 2002
http://europa.eu.int/euro/html/dossiers/00716/00716-en.pdf
HICP. Harmonised Indices of Consumer Prices. Eurostat February 2002.
http://europa.eu.int/comm/eurostat/
EB Special Eurobarometer 171- May 2002 http://europa.eu.int/comm/public_opinion/archives/eb/ebs_171_tables_en.pdf