RECENT NEWS
Sydney Morning Herald  2 hrs ago  Comment 
The Greek coalition government appears divided about the closure of the state-run ERT broadcaster.     
Top Foreign Stocks  5 hrs ago  Comment 
EM sell-off may have further to run (beyondbrics) World's Largest Oil and Gas Companies (Petro Strategies) Europeans emigrating in droves (MarketWatch) Which of the emerging economies is afraid of higher interest rates? (Deutsche Bank...
guardian.co.uk  7 hrs ago  Comment 
The sudden decision to close the Greek state television and radio company ERT and dismiss up to 3,000 journalists and technicians is the culmination of a series of attacks on free speech. This symbolic move, as the government put it in a...
guardian.co.uk  11 hrs ago  Comment 
Leading shares hit by corporate and eurozone worries, as well as continuing central bank concerns Two takeover developments and renewed trouble in Greece have combined to send shares lower for the third day running. After a brightish start the...
guardian.co.uk  Jun 12  Comment 
The Athens-based Reuters photographer Yannis Behrakis spent several weeks documenting homeless people in and around the Greek capital     
New York Times  Jun 12  Comment 
The government said ERT and would reopen later with far fewer employees to satisfy the demands of Greece’s creditors because the news outlet had become corrupt and bloated.     
New York Times  Jun 12  Comment 
Violence in Taksim Square; surprise cut in Greece; Chinese labor camps; flights in France grounded by a strike; Damien Hirst explains his art; Nelson Mandela’s role in sports.     
MarketWatch  Jun 12  Comment 
European stock markets end lower on Wednesday after unions in Greece call a general strike and as investors worried about a potential reduction in central-bank stimulus.




 


Greece ranked 42nd in the list of countries by GDP per capita, with $339.2 billion GDP in 2009 estimates. Its economy is dominated by the public sector, which accounts for approximately 40% of its GDP, followed by the tourism industry that accounts for 15% of GDP. Other important sectors include food processing, tobacco, textiles, chemicals (including refineries), pharmaceuticals, cement, glass, telecommunication and transport equipment.[1] Ever since Greece joined the EU, it became a major beneficiary of EU aid. On top of that, the replacement of drachma to the Euro currency gives Greece the access to competitive loan rates and also to low rates of the Eurobond market. This improved consumer spending dramatically, boosting economic growth to approximately 4% per year between 2003 and 2007.[2]

Greece's sovereign debt crisis Greece was not spared from the international financial crisis. In 2010, a burgeoning government deficit (12.7% of GDP) and mounting public debt (113% of GDP in 2009) led to concerns about Greece defaulting.

References

  1. TDS - Greece, Europe
  2. CIA World Fact Book 2010

Companies in the Investing in Greece Industry (303)

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