New York Times  33 min ago  Comment 
Archaeologists believe that elegant gold rings and engraved gemstones were not looted from Crete, but were signs of the growth of Minoan culture from the island.  8 hrs ago  Comment 
BRUSSELS (dpa-AFX) - Greece's manufacturing activity deteriorated in September, after expanding in the previous month, survey data from IHS Markit showed Monday. The seasonally adjusted Purchasing Managers' Index, or PMI, fell to 49.2...  Oct 2  Comment 
Predicted upswing due to tourism surge, as private-sector economists deride government’s attempts to project success After more than half a decade of gruelling, austerity-driven recession, Greece has forecast economic growth in 2017, in what...  Sep 30  Comment 
BRUSSELS (dpa-AFX) - Greece's retail sales increased for the first time in fourteen months in July, figures from the Hellenic Statistical Authority showed Friday. Retail sales grew 7.1 percent year-over-year in July, reversing a 5.2...
New York Times  Sep 28  Comment 
A coast guard captain on a small Greek island is suddenly charged with saving thousands of refugees from drowning at sea.
Financial Times  Sep 28  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.


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.


  1. TDS - Greece, Europe
  2. CIA World Fact Book 2010

Companies in the Investing in Greece Industry (303)

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