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75th Anniversary Celebrations

On the occasion of the 75th anniversary of the Bank of Greece, an exhibition has being held (from November 3, 2003 to July 7, 2004) in the foyer of the Bank's central building. Exhibits included historical documents, architectural plans, works of art, models, engravings, casts etc. of various banknotes and coins as well as some of the machines that were used to produce them.

The official celebration of the Bank of Greece's 75th Anniversary was held on Monday, November 3 in the Athens Concert Hall, in the presence of the President of the Hellenic Republic Mr. Constantine Stephanopoulos.

The Greek Prime Minister Mr. Constantine Simitis, the Governor of the Bank of Greece Mr. Nicholas C. Garganas and the President of the European Central Bank Mr. Jean Claude Trichet addressed an audience that included Governors and representatives of central banks and international financial organisations, highly-placed politicians, senior military officials and distinguished members of Greece's cultural community, members of the Diplomatic Corps, CEOs and senior staff of Greek banks, businessmen and representatives of professional associations and trade unions. The Vice President of the European Central Bank Mr. Lucas Papademos followed on the podium and spoke about "Growth with stability: the role of monetary policy".

During the event, a short documentary film on the history of the Bank of Greece was screened. The celebration also included a concert of the Athens State Orchestra at the Athens Concert Hall on Sunday, November 2.

On the occasion of its 75th anniversary, the Bank of Greece organised an exhibition of a selected group of 39 paintings and prints covering the period 1830-1930 from its own collection and from other - mostly private - Athenian collections. The exhibition ran from Tuesday, 18 February 2003 to Sunday, 30 March 2003 (10:00 - 18:00, daily) at the Athens Concert Hall, following its inauguration by Governor Nicholas C. Garganas on Monday, 17 February 2002

The exhibition "The Emergence of Modern Greek Painting, 1830-1930 - From the Bank of Greece Collection" was officially opened at the Athens Concert Hall on Monday, 17 February 2003. The same exhibition had been presented earlier (30 September - 3 December 2002) at the Eccles Building of the Federal Reserve Board in Washington D.C.

Bank of Greece Governor, Nicholas C. Garganas, opening the exhibition of 39 paintings and prints from the Bank's collection and from the collections of the National Gallery-Alexandros Soutzos Museum, the Yannis Tsarouchis Foundation, Vassilis J. Valambous, Francesca Iakovidou, Mina Papalouka, Yannis Perdios and Nicholas Petsalis-Diomidis.

Art enables us to communicate values that are otherwise difficult to define and express. Just as with poetry, the value of art lies equally in what is said and in how it is said. George Bernard Shaw once said 'You use a glass mirror to see your face, you use the arts to see your soul'" Nicholas C. Garganas, in his address at the opening of the exhibition.

"From the outset, modern Greek art broke with its Byzantine past and defined itself as purely European. The shift toward Europe was bold, yet circumspect. Early in the twentieth century, Greek artists would turn to their past, in their quest for an identity and a source of inspiration". Manolis Vlachos, Professor of Art History at the University of Athens, in his speech entitled "The emergence of modern Greek painting, 1830-1930".

As part of its 75th anniversary celebrations, the Bank of Greece has published an extensive study entitled "Monetary policy in Greece 1990-2000 through the texts of the Bank of Greece" (Economic Bulletin, issue No. 20, January 2003). This study provides a historical overview of monetary policy conduct and of the institutional reforms to the banking system during the ten years prior to the adoption of the euro. The authors, Hercules Voridis, Eleni Angelopoulou and Ifigeneia Skotida, are economists at the Bank's Economic Research Department.

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