ATHENS, Oct 16 - European Central Bank council member Nicholas Garganas said on Thursday he expected the euro zone economy to return to stronger growth next year while reiterating that ECB interest rates remained on hold. "I believe that euro zone growth will not begin for good before 2004 and even for 2004 forecasts are not that optimistic as is the case with the United States and Asia," Garganas, who is also the head of the Greek central bank, told a news conference. The ECB expects a gradual recovery in the 12-nation single currency area to take hold in the second half of this year and, also gradually, gain further momentum next year. Asked whether the strengthening of the euro created room for an interest rate cut, the Greek central banker said: "wait-and see stance is our current view on rates." The euro's recent surge to levels above $1.18 sparked concerns that it might hamper the fragile recovery by making euro zone exports more expensive while its dampening impact on inflation could give the ECB leeway to trim rates further. But the central bank, which has kept its benchmark rate at a record low of 2.00 percent since June, has played down concerns the euro's gains versus the dollar might strangle the budding recovery.//