RECENT NEWS
guardian.co.uk  Feb 19  Comment 
With another bailout set to bring more cuts, quitting the euro is back on the agenda Dimitris Costopoulos stood, worry beads in hand, under brilliant blue skies in front of the Greek parliament. Wearing freshly pressed trousers, polished shoes and...
Reuters  Feb 17  Comment 
It seem as if we have been here before: the euro zone fretting that a crisis with Greece will balloon out of all proportion while the government in Athens says it will not impose one euro more in cuts on its austerity-battered public.
Clusterstock  Feb 17  Comment 
LONDON – Yanis Varoufakis, the outspoken former Greek finance minister, said US President Donald Trump risks stoking a Europe-style debt crisis with his economic plan. "My great concern with Donald Trump is that his economic pronouncements...
Clusterstock  Feb 17  Comment 
LONDON — Eurozone countries look set to miss a self-imposed deadline next Monday to agree on aid measures for Greece, which risks running out of money in July.  The Financial Times reported that European Union officials are doubtful that...
Financial Times  Feb 16  Comment 
Brussels still at odds with IMF, pushing rescue tussle into election season
newratings.com  Feb 16  Comment 
BRUSSELS (dpa-AFX) - Delaying the agreement on the bailout for Greece will carry costs for all, and not just for Athens, European Commission Vice President Valdis Dombrovskis said Thursday. Lenders are forced to choose between working hard to...
Reuters  Feb 16  Comment 
European Union officials urged Greece and its lenders on Thursday to conclude a bailout review quickly to avert fresh uncertainty hovering over the crisis-hit nation and warned that a stalemate could harm its nascent economic recovery.
newratings.com  Feb 15  Comment 
WASHINGTON (dpa-AFX) - Researchers claim to have developed a new 'early warning system' that could help policymakers around the world take action to avert or lessen the impact of financial crisis. Existing prediction systems failed to...




 


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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