RECENT NEWS
newratings.com  4 hrs ago  Comment 
BRUSSELS (dpa-AFX) - Greece's import prices fell sustained the falling trend in February, data from the Hellenic Statistical Authority showed Friday. The import price index decreased 2.8 percent year-on-year in February, same as in January....
The Economic Times  7 hrs ago  Comment 
Politicians in Greece and in the eurozone hailed the country's comeback to the bond market as evidence that Greece had turned the corner.
Wall Street Journal  Apr 11  Comment 
Analysis: Not all is well with Greece's economic resurrection, even after a successful return to selling longer-term bonds.
Reuters  Apr 10  Comment 
Greece-based chemical transportation company Stalwart Tankers Inc has postponed its U.S. IPO plans due to "market conditions," an underwriter told Reuters.
Financial Times  Apr 10  Comment 
Finance minister Yannis Stournaras hopes more confidence in Greece’s long-term prospects will help bring investment after successful return to bond markets
New York Times  Apr 10  Comment 
After investors flocked to its five-year debt offering, Athens said it was a sign that the country was succeeding in turning its economy around.
Wall Street Journal  Apr 10  Comment 
CNNMoney.com  Apr 10  Comment 
newratings.com  Apr 10  Comment 
BRUSSELS (dpa-AFX) - Greece's EU measure of inflation declined further in March and at a faster-than-expected pace, data from the Hellenic Statistical Authority showed Thursday. The harmonized index of consumer prices decreased 1.5 percent...
Clusterstock  Apr 10  Comment 
Greece made it's triumphant return to the bond markets today after nosebleedingly high interest rates kept the country shut out for four years. However, tumbling government borrowing costs belies the fact that the Greek economy remains deeply...
Times Online  Apr 10  Comment 
Take two countries. One will have the fifth worst budget deficit of the International Monetary Fund’s 32 “advanced economies” next...




 


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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