RECENT NEWS
Financial Times  5 hrs ago  Comment 
Athens ‘has to do better’ in dealing with migrant crisis, says chancellor’s spokesman
BBC News  Sep 28  Comment 
Former Greece finance minister Yanis Varoufakis has said George Osborne was an "inept" chancellor and urged Philip Hammond to increase public spending.
The Times of India  Sep 28  Comment 
Greek Prime Minister Alexis Tsipras said on Wednesday he expected a positive outcome to discussions on debt relief for the country this year. Greece's debt pile corresponds to 176 percent of its national output. Lenders have promised to look at...
New York Times  Sep 27  Comment 
The Greek Parliament agreed to further pension cuts and plans to privatize the country’s power corporation and the water boards of Athens and Thessaloniki.
New York Times  Sep 25  Comment 
Citing health concerns and cultural differences, parents and officials in Greece want to keep refugee camp children out of local schools.
Yahoo  Sep 23  Comment 
Greek Prime Minister, Alexis Tsipras, says “the time is now” for lenders to give Greece debt relief. “This is the responsibility of our international creditors,” Tsipras said during a speech at the Concordia Summit in New York on Tuesday....
Mondo Visione  Sep 23  Comment 
The 11th Annual Greek Roadshow in London ended yesterday. This year's Roadshow noted once again significant success as it was possible for participating listed companies to present their business development and growth prospects to international...
MarketWatch  Sep 23  Comment 
Greece’s prime minister called on his European partners to stick to their obligations and help Athens manage the migration crisis despite the political cost, or else risk the future of the union.
The Hindu Business Line  Sep 22  Comment 
Athens could test debt markets in 2017, make full return in 2018




 


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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