RECENT NEWS
MarketWatch  9 hrs ago  Comment 
Greek Prime Minister Antonis Samaras’s candidate for the presidency failed to win enough support in the first round of parliamentary voting, a move that could force the country into snap elections.
New York Times  12 hrs ago  Comment 
There is a general sense that Europe could survive a breakup with Greece, if it came to that, with relatively minimal damage, thanks to an array of recent regulatory changes and a renewed commitment among leaders.
BBC News  Dec 17  Comment 
Greece on a knife-edge over presidential vote
Forbes  Dec 17  Comment 
The government's candidate loses the first round of the presidential ballot, creating a path to power for Greece's euro-skeptic party.
guardian.co.uk  Dec 17  Comment 
Russian steelmaker bucks trend after positive recommendation from Deutsche Bank Leading shares have lost some of Tuesday’s gains as a combination of fears - not least the economic turmoil in Russia - rattled investors once more. An overnight...




 


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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