RECENT NEWS
New York Times  2 hrs ago  Comment 
The country’s creditors would rather grind Athens than see their loans being repaid.
guardian.co.uk  May 30  Comment 
As privatisation agency chairman, Stergios Pitsiorlas is seen as the right man to expedite disposal of a growing list of assets In Greece today, government power comes with few trappings. Unable to tap capital markets and dependent wholly on...
newratings.com  May 30  Comment 
BRUSSELS (dpa-AFX) - Greece's producer prices decreased at a stable pace in April, figures from the Hellenic Statistical Authority showed Monday. The overall producer price index plunged 10.2 percent year-over-year in April, the same rate of...
newratings.com  May 30  Comment 
BRUSSELS (dpa-AFX) - The Greece economy contracted more than initially estimated in the three months ended March, latest figures from the Hellenic Statistical Authority showed Monday. Gross domestic product fell a seasonally adjusted 0.5 percent...
New York Times  May 30  Comment 
Europe has squeezed about as much money as it possibly can out of Greece.
Red Orbit  May 29  Comment 
An elderly man from Somerset, England had perhaps just a bit of a surprise when he discovered that the crown shoved under his bed in a dirty cardboard box is actually worth about $150,000 to $300,000 (£100,000 to £200,000). According to Daily...
Forbes  May 28  Comment 
A Greek archaeologist claims to have found the tomb of Aristotle. But classical scholars are raising important questions about this identification.




 


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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