RECENT NEWS
MarketWatch  3 hrs ago  Comment 
During the closed-doors Eurogroup meeting, Greece’s somewhat controversial finance ministers Yanis Varoufakis was accused of being a “time-waster, a gambler and an amateur.”
MarketWatch  3 hrs ago  Comment 
A busted merger, the ongoing Greek crisis and an argument against stock buybacks led the news.
SeekingAlpha  4 hrs ago  Comment 
TheStreet.com  4 hrs ago  Comment 
NEW YORK (TheStreet) --Shares of the National Bank of Greece are higher by 3.42% to $1.21 in mid-morning trading on Friday, after the Greek finance minister suggested that the country's officials are ready to negotiate and make concessions on...
Wall Street Journal  4 hrs ago  Comment 
Talks in Riga brought no joy on Greece. Markets face persistent uncertainty as a result.
Financial Times  5 hrs ago  Comment 
Finance ministers accuse Athens of backtracking on commitments
New York Times  5 hrs ago  Comment 
Finance leaders criticized Athens for moving too slowly to improve the economy, steps they see as necessary to avoid a default.
MarketWatch  5 hrs ago  Comment 
European stock-market gains trimmed after Greece meeting
The Economic Times  7 hrs ago  Comment 
There were also some positive signs from previously deadlocked negotiations between Greece and its international creditors.
Yahoo  9 hrs ago  Comment 
Euro-area finance ministers voiced their frustration with Greece after Prime Minister Alexis Tsipras tried to bypass their veto on financial aid with an appeal to Angela Merkel. “I demand very urgently that we get results on the table,”...




 


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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