RECENT NEWS
Forbes  Jun 25  Comment 
Global financial markets are stirring over the U.K. decision to leave the European Union. Here are a few things to keep in mind: As we discussed earlier in the week, the repercussions of the Brexit are very different than those that were feared...
Forbes  Jun 24  Comment 
Britain is going to emerge from Brexit as an economic powerhouse, free to emerge from the shadow of chronically underperforming continental economies like Greece and Spain, and enjoy the full, undiluted benefits of having the world’s...
Mondo Visione  Jun 23  Comment 
The 5th Greek Investment Forum in New York, was being finalized yesterday. This Forum is organized annually by the Athens Stock Exchange in cooperation with the American-Hellenic Chamber of Commerce. Sponsors of this year's Forum are five of...
Financial Times  Jun 23  Comment 
Lenders have a good news story to tell
Benzinga  Jun 22  Comment 
Delta might be the most well known of the Greeks, even if it isn't always understood. But what is Delta?  In the Greek alphabet, Delta is the fourth letter. In the Greek numerical system, it has a value of four. In the financial markets,...
Forbes  Jun 22  Comment 
Tomorrow is the U.K. vote, where its citizens will vote on whether to 'stay' or to 'leave' the European Union. In this post-Lehman (failure) era, we've had no shortage of fear and doubt. Remember the Fiscal Cliff, Sequestration, Cyprus, several...
MarketWatch  Jun 22  Comment 
European Central Bank policy makers on Wednesday reinstated a waiver that will allow Greek banks to again participate in cheap funding operations. Greek banks will again be able to use debt guaranteed by the country's government as collateral in...
Clusterstock  Jun 22  Comment 
LONDON (Reuters) - The Royal Bank of Scotland has received bids for its Greek shipping finance business which is worth about $3 billion as it looks to scale down on non-core activities, banking and financial sources familiar with the matter told...
New York Times  Jun 20  Comment 
Greek villagers welcomed the migrants — until Athens got involved.




 


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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