RECENT NEWS
newratings.com  1 hr ago  Comment 
BRUSSELS (dpa-AFX) - Greece's producer prices decreased annually for a third straight month in September, figures from the Hellenic Statistical Authority showed Thursday. The producer price index in industry dropped 0.3 percent annually...
MarketWatch  3 hrs ago  Comment 
Yields on Greek government bonds jumped on Thursday as the beleaguered European nation attempts to tamp down political risks. The 10-year yield climbed 55 basis points, or more than half a percentage point, to 8.171%. Yields, which rise as prices...
Reuters  Oct 29  Comment 
The governments of Egypt, Greece and Cyprus urged Turkey on Wednesday to stop trying to chart gas deposits in areas of the east Mediterranean claimed by Cyprus, saying the work was illegal.
New York Times  Oct 29  Comment 
Looking to join a sorority? You’ll need time and money to spare. And don’t be late for meetings and events (there’s a fine for that).
New York Times  Oct 28  Comment 
Looking to join a sorority? You’ll need time and money to spare. And don’t be late for meetings and events (there’s a fine for that).
New York Times  Oct 26  Comment 
Two of the country’s lenders, Eurobank and National Bank, were deemed deficient under the review and ordered to raise a total of 2.69 billion euros.
Financial Times  Oct 26  Comment 
Four lenders have raised €8.3bn in fresh equity capital since the start of the year
Financial Times  Oct 26  Comment 
The bailout is a reminder of how big powers have often exercised control, writes Tony Barber




 


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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