RECENT NEWS
Wall Street Journal  9 hrs ago  Comment 
For the first time in a decade, the world’s major economies are growing in sync, a result of lingering low-interest-rate stimulus from central banks and the gradual fading of crises that over years ricocheted from the U.S. to Greece, Brazil and...
247WallSt  Aug 21  Comment 
It was not that long ago that credit ratings agencies ruled the roost for troubled countries in the lands of the PIIGS. Portugal, Italy, Ireland, Greece and Spain were all deeply troubled, and Greece...
MarketWatch  Aug 18  Comment 
Fitch Ratings late Friday upgraded its rating on Greece's sovereign debt one notch to B-, from CCC, with a positive outlook, saying that country's economy is "gradually recovering" and public finances are improving. The country's debt...
Financial Times  Aug 11  Comment 
Three times as many migrants have arrived in Spain compared to same period in 2016
New York Times  Aug 10  Comment 
Masoud Shojaei, the national team captain, and Ehsan Haji Safi, a key member of Iran’s World Cup-bound team, played with their club team in Greece against an Israeli team.
Financial Times  Aug 9  Comment 
Syriza accused of interfering in case and eroding independence of judicial system
Financial Times  Aug 2  Comment 
Georgiou prosecution threatens to drive wedge between Athens and euro area creditors




 


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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