RECENT NEWS
Reuters  3 hrs ago  Comment 
Eurobank has hired HSBC and Mediobanca to help it find a "strategic partner" for its Romanian subsidiary, a source at the Greek bank said on Monday.
Mondo Visione  4 hrs ago  Comment 
The Boards of Directors of the European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF) today adopted the rules implementing a set of short-term debt relief measures for Greece.  The measures are designed to reduce...
Yahoo  9 hrs ago  Comment 
Emirates plans to start flying to the United States with a stop for passengers in Greece, its second so-called fifth freedom flight and a move that could anger U.S. competitors who accuse it of competing unfairly through state subsidies. The...
newratings.com  Jan 20  Comment 
BRUSSELS (dpa-AFX) - Greece's current account deficit increased marginally in November, preliminary figures from the Bank of Greece showed Friday. The current account deficit almost unchanged in November. It rose to EUR 1.2 billion from EUR...
Financial Times  Jan 20  Comment 
Greece’s economic crisis has disappeared from the minds of many in Europe, but inside the country, the pain is only getting worse    
Forbes  Jan 19  Comment 
In the United States, the patent protection process as it relates to the drug industry has been distorted by the political system, intense lobbying and large campaign contributions. The result has been pricing contrary to the greater good of the...
TechCrunch  Jan 19  Comment 
 Mankind has a complex relationship with the notion of Artificial Intelligence. Tinged with both fear and fascination; the timeline for AI development is punctuated by cultural and historical events that have brought with them new speculation and...
Reuters  Jan 18  Comment 
Greece on Wednesday concluded the sale of its rail company TRAINOSE to Italy's state railways Ferrovie dello Stato for 45 million euros ($48.1 million), the country's privatization...
DailyFinance  Jan 17  Comment 
Filed under: News, Controversy A xenophobic rant has quickly gone viral on Facebook. Greek immigrant Thanasi Papoulias shared a video on Facebook of a woman telling him and his wife to "speak English": "Sophia [Antonopoulos-Papoulias]...




 


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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