Thanks bb !!
Do you know any other such school which is good in local and not known globally?
It would be helpful for me to explore further on this.
It really depends on the location as well as the focus of the program. The Indian Institute of Management is a perfect example in case of India. Excellent institutions with great brand value through out India but less known outside India.
Then there are programs which are good for specific areas, for example, Babson in USA for Enterpreneurship. Again not well known globally.
Your best bet is to network with Belgian and Greek citizens (if you are not a localite) and assess their value in local markets. Also try to talk to alumni from these institutions. Or speak with people in your post-MBA target career/companies. LinkedIn could be used effectively in making such connections.