RECENT NEWS
Forbes  9 hrs ago  Comment 
The Olympics may not be fully nude anymore, but that doesn't mean that our gaze upon the thousands of athletic bodies from around the globe doesn't still have the ability to change the minds of the spectators in regard to the shapes, colors and...
newratings.com  Aug 4  Comment 
BRUSSELS (dpa-AFX) - Greece's unemployment rate held steady in May, after easing in the previous three months, data from the Hellenic Statistical Authority showed Thursday. The seasonally adjusted jobless rate came in at 23.5 percent in May,...
MarketWatch  Aug 3  Comment 
The Olympic Games are costly, corrupt, politicized and commercialized, and have become an embarrassment even to the hosts, writes Amotz Asa-El, who suggests they should be moved permanently back to Greece.
Financial Times  Aug 3  Comment 
Third-worst return on equity in the EU, ahead of only Greece and Portugal
Financial Times  Aug 2  Comment 
Brussels and ECB concerned by charge that Andreas Georgiou overstated deficit to justify harsh bailout
The Australian  Aug 1  Comment 
Former IMF deputy leader John Lipsky has defended its controversial role in Greece’s debt crisis.
newratings.com  Aug 1  Comment 
BRUSSELS (dpa-AFX) - Greece's manufacturing sector contracted in July after expanding in the previous month, survey figures from Markit Economics showed Monday. The seasonally adjusted Purchasing Managers' Index, or PMI, dropped to 48.7...
guardian.co.uk  Aug 1  Comment 
Greek finance ministry hopes that up to €4bn could return to the banking system More than a year after they were imposed, capital controls in Greece will be substantially eased on Monday in a bid to lure back billions of euros spirited out of...
newratings.com  Jul 29  Comment 
BRUSSELS (dpa-AFX) - Greece's producer prices decline moderated in June, figures from the Hellenic Statistical Authority showed Friday. The overall producer price index fell 7.8 percent year-over-year in June, slower than the 9.3 percent...
MarketWatch  Jul 28  Comment 
There were many glaring failures in the IMF’s handling of the Greek bailout, according to a long-awaited internal report released Thursday.




 


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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