RECENT NEWS
Reuters  7 hrs ago  Comment 
Euro zone creditors are working on a debt relief offer for Greece that would be an incentive for Athens not to backtrack on reforms from its three international bailouts and to continue to stick to prudent fiscal policy, senior EU officials said.
New York Times  Apr 21  Comment 
Incursions by Turkish military ships and jets into Greek territory have spiked and the potential for conflict is the greatest it has been in 20 years.
New York Times  Apr 20  Comment 
Here’s what you need to know to start your day.
Reuters  Apr 19  Comment 
The euro zone and International Monetary Fund are discussing options for future debt relief for Greece at meetings this week in Washington, but are not considering any extensions of the Greek bailout, top euro zone officials said on Thursday.
New York Times  Apr 19  Comment 
The Council of State ruled that migrants arriving on Greek islands should no longer be held there while their asylum claims were assessed.
FiercePharma  Apr 19  Comment 
Not even two months into a probe of officials accused of taking Novartis bribes, Greece's parliament is handing off the investigation.
Yahoo  Apr 14  Comment 
The Latest on U.S.-led missile strikes on Syria (all times local): 2:30 p.m. Greek police say about 6,000 to 7,000 people turned up at a rally and march in central Athens organized by Greece's Communist ...




 


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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