Bank Reform in Greece with reference to Eastern Europe

Is Greece a reforming economy? The purpose of this paper is to present the evolution and structure of the banking sector in Greece, with reference to the parallel experiences of the Eastern European (EE) countries. In Section 2, we are concerned with the domestic economic environment within which the Greek Banking System (GBS) operates. and the pressures building up within the system encouraging reform. In Section 3, we look into the evolution of the Greek Banking System, both in terms of structures and in terms of policy. Changes in the instruments of monetary policy are also considered in this section. In Section 4, we present the case of the Hellenic Industrial Development Bank, currently undergoing a thorough restructuring plan. In Section 5, we examine some of the main similarities and differences between Greece and the EE countries in relation to banking sector problems and reforms. JEL Classification:G21, G28, P59.