RECENT NEWS
guardian.co.uk  50 min ago  Comment 
New finance minister to visit France on Sunday before heading to London and Rome, as prime minister Alexis Tsipras says Greece does not intend to renege on bailout terms AFP Greece’s new anti-austerity government was set to kick off its...
Reuters  3 hrs ago  Comment 
Judging from Prime Minister Alexis Tsipras' first week in office, Greece's new leftist government is determined to take the hard-line, anti-bailout stance that international investors and European leaders had feared.
Clusterstock  3 hrs ago  Comment 
By Philip Blenkinsop BRUSSELS (Reuters) - The Federal Reserve's upgraded view that growth in the world's biggest economy is "solid", and so capable of withstanding an interest rate rise this year, will be put to the test by U.S. jobs data this...
guardian.co.uk  3 hrs ago  Comment 
The theoretical, rational model of Economic Man has a major shortcoming – he’s not, and never could be, a woman Among the most uplifting images from Syriza’s victory in Greece last week were the elated faces of a small group of fiercely...
guardian.co.uk  3 hrs ago  Comment 
If Athens stands firm and threatens to depart and default, Angela Merkel and the euro hardliners will almost certainly have to give ground Lovers of Greek myths know the story of Sisyphus, the king of Corinth who as a punishment from the gods was...
Financial Times  8 hrs ago  Comment 
Founder of China Pacific Construction unfazed by new Athens government’s anti-austerity stance
Financial Times  Jan 31  Comment 
Athens seeks to calm bailout negotiations after week of brinkmanship
Clusterstock  Jan 31  Comment 
ATHENS (Reuters) - Greek Prime Minister Alexis Tsipras called ECB President Mario Draghi to reassure him that his new government wanted a solution with international partners over its demands to renegotiate its bailout accord, a government...
Forbes  Jan 31  Comment 
The new Finance Minister of Greece has been making waves. In a meeting with Eurogroup chairman Jeroen Dijsselbloem on January 30th he appeared to say that Greece would no longer cooperate with the Troika – the combination of the IMF, European...




 


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)

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki