RECENT NEWS
SeekingAlpha  Aug 18  Comment 
By Markos Kaminis: The week ahead is not an easy one to handicap, not even for a Greek. There are positives and negatives in play and unpredictable intangibles as well. On the economic and earnings front, there's not much information coming to the...
newratings.com  Aug 15  Comment 
PARIS (dpa-AFX) - The French market is trading higher on Friday, after reassuring comments from Russian President Vladimir Putin on the Ukraine crisis influenced investor sentiment. Markets in Greece, Italy and Austria are closed for the...
newratings.com  Aug 15  Comment 
Financial Times  Aug 14  Comment 
The economic news from Germany and Japan is being misinterpreted and growth in Spain, Portugal and Greece ignored
Forbes  Aug 14  Comment 
Looking at units outstanding versus one week prior within the universe of ETFs covered at ETF Channel, the biggest outflow was seen in the FTSE Greece 20 ETF (GREK), where 1,600,000 units were destroyed, or a 12.4% decrease week over week. 
News.com.au  Aug 13  Comment 
THE long-running Greek recession may finally be easing. Meanwhile, Russia’s Gazprom has actually increased its exports to Europe.
Financial Times  Aug 13  Comment 
Economists say that a 0.2% contraction in the second quarter, compared with 2013, suggests this year’s target of positive expansion will be hit
Financial Times  Aug 13  Comment 
Spanish and Greek peach farmers as well as Dutch and Finnish dairy producers are facing losses as Moscow’s embargo starts to bite
newratings.com  Aug 13  Comment 
BRUSSELS (dpa-AFX) - The Greek economy shrunk at the least in nearly six years during the three months ended June, in a sign that the painfully-long recession may be nearing an end, figures from the Hellenic Statistical Authority showed...
Bloomberg  Aug 13  Comment 
Greece’s economy contracted at its slowest pace in almost six years, adding to signs that the country is set for a 2014 exit from its deepest recession in half a century as it emerges from its debt crisis.




 


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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