RECENT NEWS
The Hindu Business Line  2 hrs ago  Comment 
Germany’s parliament overwhelmingly endorsed negotiations on Friday on a third financial rescue package for cash-strapped Greece involving up to 86 billion euros, which was agreed by Euro Zone lea...
BBC News  4 hrs ago  Comment 
Greek ex-Finance Minster Yanis Varoufakis pours scorn on the country's €86bn bailout, as the way is cleared for formal talks over the rescue package.
Daily FX  6 hrs ago  Comment 
The Euro is free to move with Greece's clouds clearing, the Dollar awaits the next FOMC decision, risk trends are stretched and the RBNZ is top event risk.
newratings.com  7 hrs ago  Comment 
BRUSSELS (dpa-AFX) - In an immediate response to a Greek request for assistance, the European Union on Friday said it has provided firefighting planes to help stop the spread of forest fires in several parts of the country, including the outskirts...
Mondo Visione  Jul 17  Comment 
On 17 July 2015, the Council adopted a decision granting up to €7.16bn in short term financial assistance to Greece under the European Financial Stabilisation Mechanism (EFSM).  The loan will have a maximum maturity of three months and...
TheStreet.com  Jul 17  Comment 
NEW YORK ( TheStreet) -- U.S. stock index futures are mixed this morning, as oil pulled back slightly and the dollar weakened just a smidge. Chinese stocks increased for a second day in a row, with the Shanghai Composite Index closing the day up...
Wall Street Journal  Jul 17  Comment 
The Australian  Jul 17  Comment 
New York Times  Jul 17  Comment 
Chancellor Angela Merkel and her finance minister had urged legislators to back the bailout, which both called “a last attempt” to order Greece’s finances and build a functioning state.
Clusterstock  Jul 17  Comment 
A spectre is haunting Europe — the spectre of Grexit. And, as Marx would have noted with a smile if he were still alive, Europe's leaders are now, unusually, openly worrying about whether the high cost of the Greece bailout might lead to...
Reuters  Jul 17  Comment 
It is premature to discuss holding a meeting on Greece's debt but it cannot be excluded that one will be needed, European Council chief Donald Tusk said in an interview...
Clusterstock  Jul 17  Comment 
By Shinichi Saoshiro TOKYO (Reuters) - Asian shares opened higher on Friday, aided by a higher Wall Street and eased tensions over Greece, while the dollar extended gains versus the euro and yen as economic indicators bolstered expectations for...
newratings.com  Jul 17  Comment 




 


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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