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Nikolaos B. Karamouzis Current Employment and Activities Full Professor at the University of Piraeus, School of Banking and Finance Member of the Board of Directors and Deputy Chief Executive Officer of EFG Eurobank Ergasias S.A. Chairman of the Board of the subsidiaries EFG Telesis Finance S.A., EFG Eurobank Securities S.A. and Eurobank EFG Cyprus Ltd (Cyprus) Vice-Chairman of the subsidiaries, EFG Istanbul Securities S.A. (Turkey), Eurobank Tekfen S.A. (Turkey) Member of the Board of Directors of the subsidiaries EFG Hellas Plc (United Kingdom), EFG Private Bank Luxembourg (Luxembourg) Chairman of the Board of Global Fund Management S.A. and Vice-Chairman of Hellenic Federation of Enterprises (SEV) Member of the Board of Directors of the companies Hellenic Exchanges S.A. and Global Finance S.A. Studies B.Sc. degree in Economics from University of Piraeus, Greece M.A. degree in Economics from American University Washington D.C., USA Ph.D. degree in Economics from Pennsylvania State University, USA Academic Distinctions Recipient of the Ervin P. Hexner award for excelling in International Political Economy, Pennsylvania State University, 1981 Teaching Assistant, Pennsylvania State University, U.S.A., 1978-81 Recipient of the Charles V. Donahoe award as the best first-year graduate student, Pennsylvania State University, 1979 Full-time scholarship, Pennsylvania State University, U.S.A., 1978-82 M.A. degree was awarded with double distinction, American University, 1978 Teaching experience Associated Professor at the University of Piraeus, School of Banking and Finance (1997 – 2003) Assistant Professor at the Athens University of Economics and Business (1991 – 1996) Visiting Professor at Deree College (1988-1990) Assistant Professor at Case Western Reserve University, USA (1983-1986) Lecturer at the Pennsylvania State University, USA (1982-1983) Teaching Assistant, Pennsylvania State University, U.S.A., 1978-81 Previous Employment and Activities Deputy Governor of National Bank of Greece (1995 – 1999), Chairman of National Investment Bank of Industrial Development ETEBA (1997 – 1999), Board Member in a number of subsidiaries of National Bank of Greece (1995 – 1999), President and Executive Director of the Hellenic Investment Company S.A. (1993-1995), Member in the Committee of Alternate Governors of the Central Banks of Member-States of the European Union and in the Foreign Exchange Sub-Committee of the Committee of Central Bank’s Governors of the Member-States of the European Union (1988 – 1993), Visiting Researcher at the Federal Reserve Bank of Cleveland, USA (1990), Adviser to the U.S. Federal Reserve Bank of Cleveland, USA (1984-1985), etc. Publications in scientific magazines, volumes and books 1. The Evolution of the Real Estate Market and its Opportunities. Sakkoulas publications, Athens – Thessaloniki, March 2007 (jointly with G. Hardouvelis) 2. How much “united” is the European Money and Capital Market. Article in a volume published by the Hellenic Bank Association and the Sakkoulas Publishing, February 2004 3. The Capital Issue, Business File, issue no. 45, October 2002 4. The Greek Banking System amid the New Reality, Hellenic Quarterly, issue no. 14, October 2002 5. The Greek Banking System Facing the New Reality, Hellenic Bank Association Bulletin, issue no. 29, April-June 2002 / Republication in Bancassurance & Banking Magazine, issue no. 19, October 2002 6. Capital Profits Taxation in Greece (D. Georgoutsos & N. Karamouzis), Sakkoulas Editions, June 2000 7. Analyzing Devaluation Fears in an Emerging Forward Exchange Market: Greece during 1992 (in co-operation with Sarantis Kalyvitis). Ekonomia, The Journal of the Cyprus Economic Society, Volume 3, Summer 1999. 8. Euro: Adaptations and Implications on the Greek Banking System by the Economic and Monetary Union and the Introduction of Euro, Sakkoulas Publishing, 1998. 9. The Greek Banking System’s transition to the Euro Zone. Article in the 3-monthly bulletin of Hellenic Bank Association, 1st quarter 1998. 10. Taxation of Securities in Greece. Published in the volume titled “Public Sector Functions – Problems and Prospectives”, edited by the Foundation for Economic and Industrial Research, 1997, (jointly with D. Georgoutsos). 11. Problems and Prospectives of the Greek Banking Sector. Published in the Economic Review: The Greek Economy in 1997 (annual edition of the magazine EPILOGI), vol. A, pages 130-134, in the Economic and Statistical Bulletin of the National Bank of Greece, edition N° 8, March 1997 and in the magazine CHRIMA & AGORA, June 1997. 12. The Behaviour of the Sterling-Deutschemark Exchange Rate during Exchange Rate Crisis. Chapter in the book Economic Integration and Public Policy in the European Union, edited by Edward Elgar Publishing Co 1996 (jointly with Mr.D.Georgoutsos). 13. Monetary Policy and the Behaviour of Interest Rates in Greece During 1994. Published in the collection of articles titled "The Greek Financial System: Trends and Prospectives" edited by the Foundation for Economic and Industrial Research, April 1995 (jointly with D. Georgoutsos). 14. Some Thoughts Concerning the Recent Liberalization of Capital Movement in Greece. Published in the Review, Hellenic Bank Association, November 1994 and reprinted in the financial newspaper KERDOS (special yearly edition) January 1995. January 2008 2 15. Investments in Greece – Guide. Article in the newspaper ETHNOS, 1994, pp. 1-32 (jointly with D. Georgoutsos and N. Christodoulakis) 16. The Greek Government ECU-Linked Bond Market: Development and Prospects, The European Finance Convention, Special Issue, 1993, pp. 81-86 17. Financial Openness and the Effectiveness of Capital Controls. The Greek Economic Review, Autumn 1994 (jointly with Nick Christodoulakis). Published also as Discussion Paper in CEPR No 804. 18. Empirical Issues of the Sterling – Deutschemark Exchange Rate Behaviour Before and After the September 1992 Crisis. In the collective volume Essays in Honor of Constantine G. Drakatos, editor: G. Alogoskoufis, T. Kollintzas and G. Provopoulos, Papazisis Editions, pp. 391-407, 1994 19. Efficiency and Expectations Revisited: A Foreign Exchange Market with Baysian Players. CEPR Paper (jointly with N. Christodoulakis and S. Kalivitis), April 1994. 20. Demand for Financial Assets with Structural Portfolio Changes: A Quarterly Model for Greece 1973-91. Working paper (jointly with N. Christodoulakis), July 1993 21. Greece and the European Monetary Union. Published in volume No 9, Hellenic Centre of European Studies, October 1991. 22. The Impact of Liberalizing Capital Movements. Published in volume 26, Hellenic Centre of European Studies, July 1993. 23. A positive Analysis of the Policymaking Process at the Federal Reserve. In The Political Economy of American Monetary Policy, Thomas Mayer, editor, Cambridge Press, Ch. 12 Autumn 1990 (jointly with Raymond Lombra). 24. Federal Reserve Policymaking: An Overview and Analysis of the Policy Process. In Journal of Monetary Economics, Supplement Carnegie-Rochester Conference Series on Public Policy, K. Brunner - A.M. Meltzer, editors, Spring 1989, pp. 7-62 (jointly with Raymond Lombra). 25. Forecasts and U.S. Monetary Policy, 1974-78: The Role of Openness. Journal of Money, Credit and Banking, August 1988, pp. 402-408 (jointly with Raymond Lombra). 26. Lessons from the European Monetary System. Economic Commentary, Federal Reserve Bank of Cleveland, September 1987, pp. 1-4. 27. Evidence on the Random Behaviour of Weekly M1 Data. Economic Letters 22, 1987, pp. 263-267 (jointly with William Gavin). 28. A New Effective Exchange Rate Index for the Dollar and its Implications for U.S. Merchandise Trade. Economic Review, Federal Reserve Bank of Cleveland, 2nd Qtr 1987, pp. 2-23 (jointly with Peter Skapertas and Gerry Anderson). 29. The Collapse of the Bretton Woods System and the Role and Policies of the Federal Reserve. Unpublished paper, Case Western Reserve University, May 1986. 30. A Correct Value for the Dollar? Economic Commentary, Federal Reserve Bank of Cleveland, February 1986, pp. 1-4 (jointly with Owen Humpage). 31. Target Zones for Exchange Rates? Economic Commentary, Federal Reserve Bank of Cleveland, September 1986, pp. 1-4. Reprinted in Economic Impact, January 1986, and in the financial newspaper NAFTEMPORIKI, January 1987 (jointly with Owen Humpage). 32. An Evaluation of M1 Forecasting Errors by the Federal Reserve Staff in the 1970s. Journal of Money, Credit and Banking, November 1985, pp. 512-516. 33. The Effects of Liberalisation of Capital Movements in Greece. A First Assessment. Chapter in a book published by the Economic Chamber of Greece entitled Economic and Monetary Union and the Greek Reality (jointly with S. Brissimis, D. Moschos, L. Papademos, G. Stournaras and A. Eleftheriadou). 34. The Dollar in the Eighties. Economic Commentary Federal Reserve Bank of Cleveland, September 1985, pp. 1-4 (jointly with Owen Humpage). January 2008 3 35. Federal Reserve Credibility and the Market's Response to the Weekly M1 Announcements. Working paper published by the Federal Reserve Bank of Cleveland, Paper No 8502, July 1985 (jointly with William Gavin). 36. The Reserve Market and the Information Content of M1 Announcements. Economic Review, Federal Reserve Bank of Cleveland, 1st Qtr 1985, pp. 11-28 (jointly with William Gavin). 37. Monetary Policy and Real Interest Rates: New Evidence from the Money Stock Announcements. Working paper published by the Federal Reserve Bank of Cleveland, Paper No 8406, December 1984 (jointly with William Gavin). 38. Should We Return to Fixed Exchange Rates? Economic Commentary Federal Reserve Bank of Cleveland, September 1984, pp. 1-6. Printed in Economic Impact, January 1986, pp. 60-64. 39. The Use of the Interest Rate Differentials in Empirical Studies. Atlantic Economic Journal, XII, July 1984, p. 77. Publications / Articles in Newspapers and Magazines 1. “The Stock Exchange should not go to Hedge Funds”. Interview in the newspaper PROTO THEMA, supplement Business Stories, 14/10/2007 2. “Greece Facing the New Reality”. Article in the newspaper KATHIMERINI, 7/10/2007 3. “Greece Facing the New Reality”. Extracts published in the newspaper VIMA, supplement VIMA IDEON, volume 5, September 2007 4. Intensity in the Mergers and Acquisitions”. Article in the newspaper KATHIMERINI, 10/6/2007 5. “2007: An animated year for the Banks”. Article in the newspaper IMERISIA, 12/1/2007 6. “No to the Divestiture of the Greek Capital Market”. Interview in the newspaper I NAFTEMBORIKI, 20/11/2006 7. “The Fragmentation of the Market is a Wrong Strategy”. Interview in the newspaper KATHIMERINI, 1/10/2006 8. “Greek Banks See Profits Rise 30% in 3 years”. Interview in the newspaper THE BUSINESS, 2425/9/2006 9. Interview in the WORLD FOCUS for the supplement SPECIAL REPORTS, July 2006 10. “The Greek Stock Exchange today is not a ... bubble”. Interview in the newspaper PROTO THEMA, supplement BUSINESS STORIES, 5/3/2006 11. “The Transformation of the Corporations opens the way for buy-outs”. Interview in the newspaper KATHIMERINI, 14/5/2006 12. “Greece is without defence to aggressive buy-outs”. Interview in the newspaper TO VIMA, 5/3/2006. 13. “The Greek Stock Exchange”. Interview in the newspaper I NAFTEMBORIKI, 20/11/2006 14. “A multitude of Mergers and Acquisitions in the Banking Sector”. Interview in KEFALAIO, October 2006 15. Interview in BLOOMBERG, July 2005 16. Emporiki Bank and Greek Postal Savings Bank Lift the Competition within the Banking Sector”. Interview in IMERISIA, 9-10/7/2005 17. Participation in a round table discussion organized by the newspaper NAFTEMBORIKI with the subject: “Prospectives for the Development of the Greek Economy”, 4/7/2005 18. “Greek Banks in South-Eastern Europe – The New Challenge of the Decade”. Article in KEFALAIO, May 2005 19. “The Challenge of our Times: The Diminishment of the Role of the State and the Creation of a Powerful Private Economy”. Article in the newspaper KATHIMERINI, 24/10/2004 January 2008 4 20. “A Regional Force with 6 changes is the new Stock Exchange”. Article in the newspaper KOSMOS TOU EPENDITI, 30-31/8/2003 21. “Banks have become lately an easy communicative target”. Interview in the newspaper TYPOS TIS KIRIAKIS, 2/2/2003 22. «Hands down from the Banks”. Interview in the newspaper TO VIMA TIS KIRIAKIS, 12/1/2003 23. Participation in a round table discussion with the subject “Structure, Monitoring and Operation in the New Environment”, special edition of the Bulletin of Hellenic Bank Association, volume no. 30, July-September 2002 24. “Tax amnesty for capital repatriation”. Interview in the newspaper TO VIMA, 7/4/2002 25. “Size is not an end in itself”. Interview in the newspaper KATHIMERINI, 13/1/2002 26. “The Greek Banks in the Euro Era”. Interview in the magazine IKONOMIKOS TAHIDROMOS, 29/12/2001. 27. «New Economy Technologies and the Banking Sector”. Article in the special edition of ECONOMIC & INDUSTRIAL REVIEW with the title “The New Economy of Information – Internet and the Electronic Entrepreneurship”, 2001 28. “How long will the Economy hold on?” Interview in IKONOMIKOS TAHIDROMOS, 13/10/2001 29. “Cost Reduction and New Synthetic Products”. Interview for the site Reporter.gr, 25/9/2001 30. “The Double Infarction of the World Economy”. Interview in IKONOMIKI ELEFTHEROTIPIA, 22/9/2001 31. “The Time of Corporate Bonds”. Interview in the newspaper TO VIMA, 9/9/2001 32. “Daring Measures in Economy in Order to Change the Climate in the Stock Exchange”. Interview in the newspaper IMERISIA, 18/6/2001 33. Participation together with a team from Wall Street Journal in a round table discussion with the subject “Greece in the Euro Zone”, organized by the newspaper NAFTEMBORIKI in the NJV Athens Plaza Hotel on 31/5/2001 34. “How Can We Escape the Misery of Competitiveness”. Interview in the newspaper EPENDITIS, 18-19/5/2001 35. “The Future Belongs to the Investment Banks”. Interview in IKONOMIKOS TAHIDROMOS, 7/4/2001 36. “Suppress Now the Fluctuation Limit”. Participation in a round table discussion together with A. Vgenopoulos and A. Tamvakakis, Magazine Kefalaio, March 2001 37. “Is there a New Entrepreneurship in Greece?” Interview in IKONOMIKOS TAHIDROMOS, 10/2/2001 38. “New Acquisitions and Mergers in the Banks as of March”. Interview in the newspaper SIMVOULOS, 10/11/1999 39. “A Second Acquisitions Round will bring the Economic & Monetary Union”. Interview in the newspaper TA NEA, 23/10/1999 40. Tendencies & Prospectives of the Greek Banking Market after the Establishment of Euro (jointly with S. Pantelias). Article in the volume “Tendencies & Problems of the Greek Economy”, Edition TENDENCIES – THE GREEK ECONOMY 1999, January 1999. 41. “The Way towards the EMU will not be stopped by the war in Kosovo – New Interest Rates Decrease”. Interview in the newspaper ETHNOS, 24/5/1999 42. “National Bank’s Plans for the Balkan Area”. Interview in the TETRADIA IKONOMIAS, 22/5/1999 43. Interview in the newspaper VIMA TIS KIRIAKIS regarding the development of the Stock Exchange and the economy, 7/2/1999 44. “Interest Rates and Banking Profitability in the Greek Banking Sector”. Article in the year-book TASIS for 1998. 45. “The International Investors are Coming Back”. Interview in KATHIMERINI, 8/11/1998 January 2008 5 46. “Upgrading Measures for the Greek Capital Market”. Article in IKONOMIKOS TAHIDROMOS, 5/11/1998 47. Intense Competition with Euro”. Interview in the monthly magazine CHRIMA & TOURISMOS, October 1998 48. “Euro: Adaptations and Implications on the Greek Banking System by the Economic and Monetary Union and the Introduction of Euro”, extracts from the Introduction of the study of Hellenic Banking Association, which was finalized during the presidency of N. Karamouzis Sakkoulas Publishing, 1998. 49. “The Greek Banks after Euro’s Adoption”. Interview in the monthly magazine EUROPEAN BUSINESS, July-August 1998 50. “Six Reasons to Strengthen the Market”. Weekly newspaper METOHOS, 10/7/1998 51. “Insufficient Infrastructure Discourage Foreign Investors”. Interview of the week in the magazine IKONOMIKOS TAHIDROMOS, 2/7/1998 52. “Euro and the Banks”. Questionnaire published in the magazine VIOMICHANIKI & IKONOMIKI EPITHEORISI, April 1998 53. “The interest rate decrease will be slow”. Interview in IKONOMIKOS TAHIDROMOS, January 1998. 54. “Opinions regarding the development of the interest rates and the prices at the Athens Stock Exchange”. Article in the newspaper ELEFTHEROTIPIA, 30/12/1997 55. “The Prospects of the Greek Capital Market and the Internationalization of the Athens Stock Exchange”, NAFTEMPORIKI, August 1997. 56. “Lending-Deposit interest rate spreads. Are they too high?” Published in the financial magazine OIKONOMIKOS TAHIDROMOS, August 1997. 57. “Instruments of Bonds and Fixed Income Securities in Greece”. Article published in the magazine BANK & BANKERS, based on the presentation in the Hellenic-Italian Symposium 1996, paper 315, February 1996. 58. “Problems and Prospectives in Managing Pension Funds Reserves in Greece”. Published in the newspaper KATHIMERINI, May 1995. 59. “ETBA & Investment Banking”, published in the magazine CHRIMA & AGORA, February 1995. 60. “Necessary Changes in the Procedures for the Listing of New Companies in the Athens Stock Exchange”. Magazine CHRIMA & AGORA, December 1994. 61. “The Impact of Liberalizing Capital Movements”. Newspaper TO VIMA, 4/7/1993 62. “The Effectiveness of Capital Controls in Greece” published in the financial magazine OIKONOMIKOS TAHIDROMOS, December 1992 (jointly with N. Christodoulakis). 63. “The Recent Monetary Crisis” interview in the newspaper VIMA, December 1992 64. “What Has Been Implemented and What Still Remains To Be Done for the Full Liberalisation of the Financial Sector in Greece?” published in the financial newspaper EXPRESS, special edition MONEY, BANKS AND THE STOCK EXCHANGE, October 1992. 65. “Towards a European Central Bank: The Decisions of Maastricht and the Greek Reality” published in the newspaper KATHIMERINI 9.12.91. 66. “Greece Facing the New Reality” published in the financial newspaper EXPRESS, special edition ECONOMY 91, February 1991. 67. “Deficits and Cost of Money” published in the newspaper KATHIMERINI, 2.2.91. 68. “Why Should the Bank of Greece Become Independent?” published in the newspaper VIMA, 14.10.1990. 69. “A Different View on Inflation” published in the newspaper KATHIMERINI, 12.9.1990. 70. “The Perils of Non-Participation in the Economic and Monetary Union” interview in the financial magazine Greece and the EEC June 1990. January 2008 6 71. “Fiscal Discipline and Greece” published in the newspaper KATHIMERINI, 8.3.1990. 72. “Critical the Next Three Years for the Greek Banks”, a series of articles in the newspaper KATHIMERINI, 28.1.1990 - 1.2.1990. 73. “The Difficulties of Economic Forecasts” published in the financial newspaper EXPRESS, 25.9.1989. 74. The Forthcoming Review of the ECU Weights, published in the financial newspaper KERDOS, 2.6.1989. 75. “Are Foreign Exchange Reserves Really High?” published in the magazine AGORA, 12.1.1989. 76. Review of the book entitled Business Cycles and Financial Crises by H. Minsky. Southern Economic Journal, August 1987. 77. Review of the book entitled “Exchange Rate Management Under Uncertainty”, editor Jagdeep S. Bhandari. Southern Economic Journal, April 1986, pp. 1197-1199. Presentations and Participations in Professional Conferences and Meetings 1. Presentation of the working paper “Competitiveness of the Greek Companies” at the 5th yearly educational event “Leadership Forum” for postgraduate students, organized by Titan Cement Company, 18/5/2006 2. Presentation of the working paper “How can consultants make a difference” at a colloquium organized by Kantor Management Consultants, 6/4/2006 3. Presentation of a working paper at the colloquium “Sources of Growth: Can Greece follow the Irish example?” organized by Eurobank ERG, 4/10/2005 4. Presentation of the working paper “Major Privatization Projects” at the International Herald Tribune Conference with the subject “Investment & Business Prospects in Greece’s postOlympic Era”, 11/10/2004 5. Presentation of the working paper at a colloquium with the subject “The Greek Financial System in the United Europe”, organized by the University of Peloponnese, Department of Economic Sciences, 3/12/2003 6. Participation in a round table discussion with the subject “European Union and Financial Environment in Greece” organized by the Hellenic Banking Association, 22/10/2002 7. Participation in a round table discussion with the subject “The United European Capital Market” organized by the Hellenic Banking Association 8. Presentation of the working paper “Management of Pension Funds’ Reserves” at an event organized by TSAY Fund, 1/7/2001 9. Participation together with a team from Wall Street Journal in a round table discussion with the subject “Greece in the Euro Zone”, organized by the newspaper NAFTEMBORIKI in the NJV Athens Plaza Hotel on 31/5/2001 10. Presentation of the working paper “The Management of Pension Funds’ Reserves: It is time for a radical and integrated intervention” at a conference organized by the Panhellenic Pharmacists Association and the Panhellenic Pharamicists Union, 28-30/4/2001, Peace and Friendship Stadium 11. Presentation of the working paper “Economic and Monetary Union and Greek Banks” at the colloquium “The Greek Stock Exchange: Problems and Prospectives” organized by the Athens University of Economics & Business, 21/2/2001 12. Presentation of the working paper “Greek Banking Systems in the Euro Zone – Challenges and Prospectives” at the 2002 postgraduate course of the Hellenic Naval Staff and Command College, 31/1/2001 January 2008 7 13. Presentation of a working paper at the Banking Forum “2000 – 2010: Welcoming a new Banking & Financial Era” organized by Economist, Athenauem InterContinental Hotel, 14-15/11/2000 14. Presentation of the working paper “Development Prospectives of the Banks in the Balkan Area” at the 9th American-Hellenic Chamber of Commerce “The Time of the Greek Economy” 15. Presentation of the working paper “Stock Exchange and Greek Tourist Enterprises” at Philoxenia International Tourism Exhibition of Hellexpo, organized by Association of Greek Tourist Enterprises, 6/11/1998 16. Presentation of the working paper “Greece’s position in the International Tourism Sector and the Development of the British Tourism in Greece – The Opinions of British Tourism Specialists” at the conference “The Greek Tourism Industry” organized by the British-Hellenic Chamfer of Commerce, 26/11/1998 (main speaker) 17. Presentation of the working paper “The Athens Stock Exchange changes its face” at the financial conference “Athens Stock Exchange 2000”, 19/9/1998 18. Presentation of the working paper “The Modernization of the Regulatory Framework of the Greek Capital Market as a Prerequisite for its Internationalization” at the 1st International Meeting “Modern Enterprise and the Athens Stock Exchange” organized by Leader International S.A., 18/9/1998 19. Presentation of a working paper at the Conference with the subject “How the Changes in the International Markets affect the Greek Capital Market”, Grande Bretagne Hotel, 17/6/1998 20. Presentation of a working paper at the 5th yearly Salonika Forum “Greece and Balkan Countries” organized by the Federation of Industries of Northern Greece, the Macedonia Thrace Bank and the American-Hellenic Chamber of Commerce, 31/3/1998 21. Presentation of a working paper on Euro at the Financial and Monetary Union conference organized by Hellenic Bank Association, Mela Mansion, 27/2/1998 22. Presentation of the working paper “The Greek Stock Exchange: Problems and Prospectives in the new Internationalized Environment” at the event “The Greek Stock Exchange: Gambling or Productive Investments?” organized by OPEK, 28/1/1998 23. Presentation of the working paper “The Evolution of the Banking Sector is forceful” at the Italoellenico Symposium 1998, January 1998 24. Presentation with the subject: “Changes in the Banking Sector during its Transition to the Single Currency” at the “Athens Summit 1997” under the general theme “Democracy and Development. Europe contribution to the globalisation of the Economy”, August 1997. 25. Discussant at the Colloquium “Stock Exchange: Possibilities and Limits” organized by the Centre of Research and Documentation”, April 1997. 26. Presentation of the working papers “Stock Exchange: Problems 1996 – Prospectives 1997” and “Monetary Union, Euro and their Impact to the Greek Banking System” at the “Italoellenico Symposium 1997” organized by the Italian Chamber of Commerce, January 1997. 27. Presentation of the working paper “Prospectives and Problems of the Greek Banking Sector” at the Colloquium “The Modernization of the Hellenic Banking System and Capital Market: International Developments and New Products”, organized by the American-Hellenic Chamber of Commerce, December 1996. 28. Discussant of working papers at the Forum BANKTECH ‘96 organized by Hellenic-American Chamber of Commerce on “The Introduction of Public Sector Enterprises in the Athens Stock Exchange, Privatization of the Public Sector”, May 1996. 29. Presentation of the working paper “Instruments of Bonds and Fixed Income Securities” at the Colloquium on the “Evolution in the Greek Banking System and the Money Markets” organized by the Greek Chamber of Commerce, February 1996. January 2008 8 30. Presentation of the working paper “Instruments of Bonds and Fixed Income Securities” at the “Italoellenico Symposium 1996” organized by the Italian Chamber of Commerce, January 1996. 31. Presentation of the working paper "Management of Private Saving" at the discussion organized by the “Parents Committee of Athens College” Students on Greek Economy, December 1995. 32. Presentation of the working paper "Budget, Interest Rates and Exchange Rates" at the seminar organized by "Athinaiki Oikonomiki" on the "Consequences of the New Budget", December 1995. 33. Presentation of the working paper "Financial System and Development in Greece" at the Colloquium organized by OPEK on "Greek Economy", December 1995. 34. Presentation of the working paper "Management of Pension Funds" at the meeting for the 70th anniversary of TSAY, December 1995. 35. Presentation of the working paper "Brokerage Companies in Greece: Developments and Prospects", in the Conference Money Show ' 95, November 1995. 36. Discussant in the Colloquium on the Greek Economy after the Maastricht Agreement organized by the Foundation of Economic and Industrial Research, November 1995. 37. Participation in the Economic Conference "Capital Market, Stock Exchange and Banking System organized by Event Forum, October 1995. 38. Presentation of the working paper entitled "Major Macroeconomic Developments in Greece" at the Templeton Emerging Markets Conference, California, September 1995. 39. Presentation of the working paper entitled "Monetary Policy and Exchange Rate Policy in Greece" at the Colloquium organised by I.O.B.E., May 1995 (jointly with Mr. Georgoutsos). 40. Presentation of the working paper entitled "Management of Pension Funds' Reserves in Greece" at the Colloquium organised by Athens University of Economics and Business, March 1995. 41. Presentation of the working paper entitled "Liberalisation of the Capital Movement in Greece" at the Colloquium organized by the Economic Chamber of Greece on the Economic and Monetary Union, December 1992. 42. Presentation of the working paper entitled "The New Role of the Bank of Greece when the European System of Central Banks is Implemented" at the Colloquium organised by the Centre for Research and Documentation, held at the Bank of Greece, November 1992. 43. Discussant of the papers by Prof. G. Giannitsis and Prof. Katseli respectively at the Colloquium of the University of Athens on "Macroeconomic and Development Policies in Greece", March 1992. Forthcoming in a book with the same title. 44. Presentation of the working paper entitled "Monetary Union, the European Central Bank and Greece: Responsibilities, Problems and Perspectives", at the Conference on the E.M.U. organised by the Institute of Labour, February 1992. 45. Presentation of the working paper "Towards a European Central Bank" at the Economic University of Athens in the series "Lectures 1992", December 1991. 46. Presentation of the working paper entitled "Perspectives in View of 1992" at the Colloquium organised by the Hellenic Economic Sciences for the Greek Economy on "The Greek Economy and Economic Policy in the 1990s", December 1989. 47. Discussant of the papers by L. Bini Smaghi and S. Micossi “Managing Exchange Markets in the E.M.S. with Free Capital” at the Conference “The European Monetary System in the 90s”, organized by the Bank of Greece in co-operation with EKEM, September 1989. 48. Participation in the seminar on the management of foreign reserves organised by Salomon Brothers, New York, May 1988. 49. Federal Reserve Policymaking: An Overview and Analysis of the Policy Process. Working paper presented at the Carnegie-Rochester Conference on Public Policy held at the Rochester University, New York, in April 1988 (jointly with Raymond Lombra). January 2008 9 50. Federal Reserve Credibility and the Market's Response to the Weekly M1 Announcements. Working paper presented at the Midwest Economic Association Conference held in Chicago, Illinois, in March 1986 (jointly with William Gavin). 51. Discussant of working papers at the Atlantic Economic Conference, (October 1983), Southern Economic Association Conference (November 1986) and Eastern Economic Association Conference (March 1985). 52. Monetary Policy and Real Interest Rates: New Evidence from the Money Stock Announcements. Working paper presented at the Meeting of the American Economic Association in Dallas, Texas, in December 1984 (jointly with William Gavin). 53. The Role and Policies of the Federal Reserve in the Bretton Woods System. Working paper presented at the 54th Annual Meeting of Southern Economic Association held in Atlanta, Georgia, in November 1984. 54. The Role of Openness in the Conduct of U.S. Monetary Policy. Working paper presented at the 53rd Annual Meeting of the Southern Economic Association held in Washington, D.C., in November 1983 (jointly with Raymond Lombra). 55. The Role of the Federal Reserve in the Bretton Woods System. Working paper presented at the 16th Atlantic Economic Conference held in Philadelphia, Pennsylvania, in October 1983. 56. Speaker at seminars held at: the Ohio State University, the Pennsylvania State University, the Case Western Reserve University, the State University of Illinois, the University of Main, the University of Syracuse, the Federal Reserve Bank of Cleveland, the Economic University of Athens, the Bank of Greece, the Deree College. January 2008 10