RECENT NEWS
TechCrunch  4 hrs ago  Comment 
 Raising money for a venture fund is almost never easy, but it’s a whole lot harder in certain places that are struggling economically, like Greece. Thankfully for the country, a new seed-stage firm has formed, called Marathon VC. Its mission,...
Financial Times  8 hrs ago  Comment 
Police refuse to name targets of campaign coinciding with stand-off with creditors
Reuters  Mar 22  Comment 
Greece said on Wednesday it hopes for a deal with its international lenders within the month of April and is working to bridge differences on labour, pension and energy reforms.
MarketWatch  Mar 22  Comment 
Philip Morris International Inc. said Wednesday it has invested about 300 million euro, or the U.S. dollar equivalent of about $323.7 million, to convert a cigarette factory in Greece to a plant to make tobacco sticks for its smoke-free product...
New York Times  Mar 21  Comment 
The packages resembled devices sent last week to the German finance minister and to the International Monetary Fund’s offices in Paris, officials said.
MarketWatch  Mar 20  Comment 
Finance ministers from the euro currency discussed the impasse in Greece’s talks with creditors on Monday, but no breakthrough emerged on the latest conflict that threatens to derail Greece’s bailout deal: workers’ rights.
Reuters  Mar 20  Comment 
Greek Finance Minister Euclid Tsakalotos said on Monday he planned to stay in Brussels for further consultations with the country's creditors towards finalising a bailout review.
Financial Times  Mar 17  Comment 
Conservatives in US Congress say Europeans should solve the crisis on their own
CNNMoney.com  Mar 16  Comment 
One employee of the International Monetary Fund has been injured in an explosion at the group's offices in Paris.




 


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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