RECENT NEWS
Wall Street Journal  8 hrs ago  Comment 
Turkey’s Finansbank plans to increase its share capital buffers by 25% in a secondary public offering of stock, a move designed to shore up the finances of its Greek parent, National Bank of Greece.
Clusterstock  Oct 22  Comment 
Greenlight Capital CEO David Einhorn gave two ideas on Monday at the Robin Hood Investors Conference. One was a long position — in the solar company SunEdison. And the other was a long/short — long Greek banks, short French government...
SeekingAlpha  Oct 21  Comment 
By Accuvest Global Advisors: Europe is leading a worldwide rout of equities. While a myriad of headlines have contributed to the gloom, negative investor sentiment began to surge in earnest on October 2nd, when European Central Bank (ECB)...
newratings.com  Oct 21  Comment 
BRUSSELS (dpa-AFX) - Greece's current account surplus for August increased from the same month last year, figures from the Bank of Greece showed Tuesday. The current account surplus rose to EUR 1.8 billion from EUR 1.2 billion a...
Bloomberg  Oct 21  Comment 
Greek officials are trying to persuade their euro-area creditors to look beyond existing financial backstops to help them escape the shackles of the country’s bailout, two people familiar with the matter said.
Clusterstock  Oct 20  Comment 
David Einhorn just finished presenting at the annual Robin Hood Investor Conference, and he recommended a Europe trade — long Greece, short France. Einhorn recommended going long Greek banks, Alpha Bank and Piraeus Bank using warrants, our...
Wall Street Journal  Oct 20  Comment 
The results of the European asset reviews and stress tests are due this weekend. Capital concerns have added to existing reasons to sell bank stocks.




 


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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