RECENT NEWS
newratings.com  Apr 4  Comment 
BRUSSELS (dpa-AFX) - Greece's retail sales dropped for a second straight month in January, data from the Hellenic Statistical Authority showed Friday. The retail sales volume decreased 1.9 percent year-on-year, following a 6.1 percent...
FX Street  Apr 4  Comment 
Notes/Observations - (US) Anticipation of a strong, USD-positive US payroll report expecting it to... For more information, read our latest forex news and reports.
DailyFinance  Apr 3  Comment 
ATHENS, GREECE -- (Marketwired) -- 04/03/14 -- Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today that its Board of Directors has called an annual meeting of the...
Wall Street Journal  Apr 3  Comment 
Greece's international creditors have agreed to cut its privatization target for the current year, the head of the country's asset-sale agency said.
Times Online  Apr 3  Comment 
The Greek government is teetering on the brink of collapse after explosive claims by the Prime Minister’s aide that neo-fascist...
New York Times  Apr 3  Comment 
Greece’s Parliament on Wednesday voted to lift the immunity of another four of the Golden Dawn party’s lawmakers so they can face trial on charges of setting up a criminal organization.     
Reuters  Apr 2  Comment 
Greece's first foray into bond markets after a four-year exclusion will be on a "trial and error" basis but the nation expects to fund itself unaided in 2016, its finance minister told Reuters on Wednesday.
Cellular News  Apr 2  Comment 
Ericsson has been accused of paying bribes to secure a Greek defence contract back in 1999. The company confirmed that a payment of US$18 million was made, but that it went to a commercial agent and it did not know how that person used it. Click...
DailyFinance  Apr 2  Comment 
SEATTLE, WA -- (Marketwired) -- 04/02/14 -- After a week of intense voting at HipsterTaxCrisis.com, Socrates was elected the "Greatest Hipster in History" with 31.7 percent of the votes in an announcement made at the first Irony Games in...
Bloomberg  Apr 2  Comment 
German Finance Minister Wolfgang Schaeuble said Greece and other euro-area governments are discussing ways to bundle measures to boost economic growth in the bloc’s most indebted nation.




 


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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