RECENT NEWS
Reuters  Apr 12  Comment 
International Monetary Fund chief Christine Lagarde on Wednesday said Greece was heading in the right direction on reforms but talks on its bailout and the IMF's potential role in it were "only halfway through".
The Hindu Business Line  Apr 12  Comment 
The only bid submitted to build an airport on the Greek island of Crete was priced at €480 million, well below the expected €850 million, sources close to the project said on Wednesday. The bid was...
WA Business News  Apr 12  Comment 
The Hellenic Initiative Australia has launched a campaign inviting people travelling to Greece to volunteer while they holiday.
The Times of India  Apr 11  Comment 
EUROZONE-GREECE/BAILOUT:Greece to legislate austerity, but implementation hinges on debt relief
Reuters  Apr 10  Comment 
The European Union should consider a one-billion-euro ($1.1-billion) special investment programme to spur growth in debt-ridden Greece, Austria's finance minister told daily Der Standard in an interview published on Monday.
Reuters  Apr 9  Comment 
Greece will implement additional austerity measures agreed with its official creditors on condition of further debt relief that will enable the country to be included in the ECB's bond buying scheme, Prime Minister Alexis Tsipras said on Sunday.
guardian.co.uk  Apr 8  Comment 
Only diehard communists now take to the streets in a nation where the Brussels bailout programme is showing little signs of working Eight years into Greece’s ordeal to escape bankruptcy, thousands of Communist party sympathisers packed into...
BBC News  Apr 7  Comment 
Eurozone finance ministers agree the basis of a deal to unlock Greece's delayed bailout programme.
FiercePharma  Apr 7  Comment 
Greek official: 'Thousands' of people implicated in Novartis bribery probe esagonowsky Fri, 04/07/2017 - 09:42
guardian.co.uk  Apr 7  Comment 
Eurogroup and Greece agree reforms UK trade and industrial production figures disappoint UK house price growth slows China ready to work with Trump Eurogroup hopeful of Greece progress European markets open lower 2.50pm BST With a...




 


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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