RECENT NEWS
Forbes  7 hrs ago  Comment 
The founder of Chobani, the upstart Greek yogurt maker recently valued at as much as $5 billion, just committed one of the most selfless corporate acts of the year: he’s giving 10% of the company to its 2,000 or so employees. Some long-term...
MarketWatch  Apr 29  Comment 
Dutch Finance Minister Jeroen Dijsselbloem said creditors need a little more time to work with Athens on the legal possibilities for a contingency mechanism that would trigger further austerity if Greece misses targets.
The Times of India  Apr 28  Comment 
Brussels, April 28, 2016 (AFP) -The EU's top economic official called Thursday for a rapid end to talks over Greece's bailout, warning that failure to reach agreement soon would further harm the country's debt-wracked economy.
MarketWatch  Apr 28  Comment 
Protein bars, Greek yogurt and high-end jerky are becoming popular items
Clusterstock  Apr 28  Comment 
Former Greek finance minister Yanis Varoufakis, author of And the Weak Suffer What They Must?, has some strong opinions when it comes to identifying what the single greatest threat is to the global economy. He explains how it could create a major...
newratings.com  Apr 28  Comment 
VIENNA (dpa-AFX) - With less than two months to go for the referendum to decide the fate of Britain's position in the European Union, "Brexit" talks are splashed across all media outlets to the point of tiring out readers/viewers. It's...
New York Times  Apr 27  Comment 
Perhaps Donald Trump is playing the men’s card: The U.S. is positioned between Greece and Bangladesh in one metric of women’s success in politics.
The Times of India  Apr 27  Comment 
Paris, April 27, 2016 (AFP) -Eurogroup chief Jeroen Dijsselbloem on Wednesday said the next meeting of eurozone finance ministers to discuss debt-crippled Greece could take place within the next two weeks. "I don't have a deadline. I know that...
guardian.co.uk  Apr 27  Comment 
European council president declined Greek proposals, instead urging eurozone finance ministers to call emergency debt meeting within days Mounting urgency has returned to Greece with the country’s financial predicament igniting fears of a...
New York Times  Apr 27  Comment 
Without new rescue funds by July, the country could default on its debts and throw the currency bloc into another period of chaos.




 


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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