RECENT NEWS
Clusterstock  46 min ago  Comment 
(Reuters) - Greece will run out of money by April 20 unless it receives fresh aid from creditors, a source familiar with the familiar with the matter told Reuters on Tuesday. Athens is scrambling to send a list of planned reforms to its European...
New York Times  2 hrs ago  Comment 
The announcement came as Prime Minister Alexis Tsipras met supporters and leading government ministers on his first official visit to Germany.
New York Times  2 hrs ago  Comment 
Greeks may resent their dependence upon their eurozone neighbors, but history shows that they need them.
Mondo Visione  4 hrs ago  Comment 
ECB President Mario Draghi at the Economics Committee to discuss monetary dialogue and the bank's new quantitative easing policy   The European Central Bank’s expanded asset purchase programme, better known as “quantitative easing”...
Clusterstock  7 hrs ago  Comment 
Greece is "now a lose-lose game and the best that can happen is actually muddling through," and there's a 50-50 chance the country will exit the eurozone, according to multibillionaire investor George Soros. That's according to an...
Reuters  8 hrs ago  Comment 
European Parliament President Martin Schulz said in an interview published on Tuesday he expected Greece to reach an agreement with its euro zone partners within a week to...
Financial Times  Mar 24  Comment 
Dollar index volatile after consumer price index
guardian.co.uk  Mar 23  Comment 
German chancellor Angela Merkel issues a joint press conference alongside Greek prime minister Alexis Tsipras on Monday. Merkel says her country wants the Greek economy to grow and overcome high unemployment, but this will require structural...
New York Times  Mar 23  Comment 
Prime Minister Alexis Tsipras and Chancellor Angela Merkel tried to calm relations between their countries ahead of attempts to find a deal on Greek debt.
Clusterstock  Mar 23  Comment 
NEW YORK (Reuters) - U.S. stock index futures ticked lower on Monday following strong gains in major indexes last week, as investors eyed negotiations over the future of Greece in the euro zone and as oil prices fell further. * German Chancellor...




 


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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