This shock passed quickly, as in spring 1977 the team accepted an invitation to participate to the Balkan Cup, from the organizers. The “Greens” run till the end of the Competition and won the title on March, 15 1978 playing against the Bulgarian team of Slavia Sofia in a double final.
The course started on April, 17 1977 in Albania in a duel against Vlaznia. The “Greens” draw 1-1 thanks to a goal scored by Vakalis in the 24th minute. Three weeks later in Titograd, Yugoslavia, the Shamrock draw 2-2 playing against Boutognost with two goals scored by Eleftherakis (40th min.) and Aslanidis (87th min.). In “Leoforos” stadium, Panathinaikos got the “ticket” to the final after achieving two victories playing against Vlaznia and Budognost, “bowing” the first one 3-0 with two goals by Yiannakoulas (77th and 90th min) and one more by Papademetriou (82th min.) winning the second rival 2-1 (scorers: Papademetriou in the 19th min and Georgevic in the 67th min.)
The first match for the final took place in Bulgaria against Slavia Sofia and was a no goal draw (although in the 38th minute the referee didn’t allow a goal even though the ball passed the line after a shoot by Eleftheriadis).
The teams: Konstantinou, Eleftheriadis, Demetriou, Kizas, Gonios, Livathinos, Eleftherakis (7’ Vakalis, 67’ Yiannakoulas), Ifantis, Alvarez, Terzanides, Papademetriou.
At the rematch on March 15, 1978, Panathinaikos won Slavia 2-1 thanks to goals scored by Eleftherakis (16th min) and Vakalis (63rd min.).
The team: Konstantinou, Eleftheriadis, Stefanakis, Yiannakoulas, Gonios, Livathinos, Vakalis, Eleftherakis (80′ Katsiakos), Alvarez, Terzanidis, Papademetriou (46’ Vallidis).
