The Collaborative International Dictionary of English v.0.48:

Romaic \Ro*ma"ic\, a. [NGr. ????: cf. F. roma["i]que. See
   Roman.]
   Of or relating to modern Greece, and especially to its
   language. -- n. The modern Greek language, now usually called
   by the Greeks Hellenic or Neo-Hellenic.
   [1913 Webster]

   Note: The Greeks at the time of the capture of Constantinople
         were proud of being "Romai^oi, or Romans . . . Hence
         the term Romaic was the name given to the popular
         language. . . . The Greek language is now spoken of as
         the Hellenic language. --Encyc. Brit.
         [1913 Webster]

WordNet (r) 3.0 (2006):

romaic
    adj 1: relating to modern Greece or its inhabitants or its
           language
    n 1: the modern Greek vernacular [syn: Romaic, Demotic]