THE NAME IS A COMPOSITE OF VASILIS”THE GREEK FORM OF THE NAME BASIL” AND PITA “PIE”, ST VASSILIS IS THE GREEK EQUIVALENT OF SANTA CLAUS. ST VASILIS’S DAY IS COMMEMORATED ON “JANUARY 1ST”.   THE TRADITION ORIGINATED FROM THE LEGEND WHEN THE EMPEROR HAS PLACED A HEAVY TAX ON ST. BASIL KNOWING FULLY THAT HE WOULD NOT BE ABLE TO PAY.   HOWEVER, THE MANY FAITHFUL FOLLOWERS GAVE HIM MONEY & JEWELS TO HELP PAY THE TAXES. WHEN THE EMPORER SAW THAT ST. BASIL HAD RAISED THE NECESSARY FUNDS, HE WAS AMAZED & HAD A COMPELETE CHANGE OF HEART, REFUSING TO TAKE THE MONEY.   ST. BASIL WISHED TO RETURN THE MONEY & JEWELS TO ALL THOSE WHO HAD GIVEN THEM TO HIM .HE HAD NO WAY OF KNOWING WHO TO RETURN THE MONEY, JEWELS & RINGS TO, WITH PEOPLE ARGUING OVER WHAT BELONGED TO WHOM.   SO HE ORDERED MANY CAKES BAKED & IN THEM PLACED THE COINS & JEWELS; HE THEN DISTRIBUTED THESE CAKES TO THE PEOPLE & BY A GREAT MIRACLE, EACH PERSON FOUND IN HIS CAKE WHAT HE HAD GIVEN TOWARDS PAYING THE TAX.   TODAY, A COIN IS PLACED IN EVERY VASILOPITA TO COMMEMORATE THE EVENT. WHOSEVER CAKE PIECE GETS THE COIN, HAS GOOD LUCK FOR THE NEW YEAR!