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Reuters  25 min ago  Comment 
A senior member of Chancellor Angela Merkel's conservatives has warned leftist Greek Prime Minister Alexis Tsipras not to use his de facto veto over an extension of...
The Hindu Business Line  35 min ago  Comment 
Germany should take a flexible view of Greece’s debt, to contain the Left wing, anti-austerity uprising
SeekingAlpha  1 hr ago  Comment 
guardian.co.uk  2 hrs ago  Comment 
The new Syriza government in Greece now faces the challenge of renegotiating its debts. Phillip Inman explains the options on both sides in a game of high-stakes brinksmanship Continue reading...
CNNMoney.com  2 hrs ago  Comment 
After just days in office, Greece's new government has begun wrestling with Europe, while inching closer to a more volatile power: Russia.
MarketWatch  3 hrs ago  Comment 
Syriza’s finance minister protests about the EU readying new sanctions on Russia without consulting the new Syriza-led government, which some see as cozying up to Moscow.




 


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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