RECENT NEWS
Wall Street Journal  10 hrs ago  Comment 
The crisis-battered country's reopening of two medium-term bonds met strong demand, marking another success in Greece's effort to return to international capital markets.
Bloomberg  Sep 12  Comment 
Greece may merge its two largest water utilities, Athens Water Supply & Sewage Co. and Thessaloniki Water Supply & Sewage Co., after efforts to sell controlling stakes were stymied by legal obstacles and local opposition.
Clusterstock  Sep 11  Comment 
Years after the crisis began, the unemployment rate in Greece still looks utterly dismal.  Here are a couple of tweets to show how bad the situation is. Greek unemployment 27% in June. Believe it or not, that's the LOWEST in over...
newratings.com  Sep 11  Comment 
BRUSSELS (dpa-AFX) - The Greek jobless rate declined for the second straight month in June, figures from the Hellenic Statistical Authority showed Thursday. The unemployment rate fell to 27 percent from a revised 27.1 percent in May. The rate was...
newratings.com  Sep 10  Comment 
BRUSSELS (dpa-AFX) - Greece's harmonized index of consumer prices, or HICP, declined at a slower than expected rate in August, figures from the Hellenic Statistical Authority showed Wednesday. The HICP fell 0.2 percent year-over-year in...
newratings.com  Sep 9  Comment 
BRUSSELS (dpa-AFX) - Greece's industrial production continued to decline in July, though at a slower rate, preliminary figures from the Hellenic Statistical Authority showed Tuesday. Industrial production fell 2.1 percent year-over-year in...
Canada.com  Sep 8  Comment 
Archaeologists believe the tomb that dates between 325 B.C. and 300 B.C. could be connected with the reign of the warrior-king Alexander the Great
NPR  Sep 8  Comment 
The country's prized archaeology sites are suffering, thanks to austerity measures and slashed budgets. But archaeologists face strict laws mandating state ownership of Greece's ancient treasures.




 


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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