RECENT NEWS
Reuters  12 hrs ago  Comment 
A peace settlement in Cyprus is not possible unless Greek Cypriots cut a deal on natural gas exploration with the Turkish-backed breakaway state in the north of the island, the chief Turkish Cypriot negotiator said on Tuesday.
MarketWatch  Nov 24  Comment 
On Monday, the yield on the 10-year Spanish bond fell below 2% to its lowest level ever, but despite a renewed interest, these bonds aren’t a smart bet for U.S. investors.
Clusterstock  Nov 24  Comment 
ATHENS (Reuters) - Greek government officials and EU/IMF lenders will hold talks in Paris on Tuesday on a crucial bailout review that has stalled over disagreement on a projected budget gap for next year. "Late last night it was agreed that there...
guardian.co.uk  Nov 24  Comment 
All the latest business and economics news, as the International Labour Organisation issues a new report on the Greek jobless crisis. Latest: ILO demands new strategy to fight Greek unemployment Earlier: German business climate improves Global...
The Hindu Business Line  Nov 23  Comment 
Other countries — the Philippines, South Korea, Kazakhstan, Greece — have it. We too need an independent adjudicator
Financial Times  Nov 21  Comment 
Move underscores tension over hoped-for exit in December from €172bn bailout programme
New York Times  Nov 21  Comment 
The troika of international lenders is wary of the projections amid political uncertainty in the country.
Wall Street Journal  Nov 21  Comment 
Apollo Global Management, a New York-based company which seeks opportunities in distressed economic situations, has started looking at Greece.
Wall Street Journal  Nov 20  Comment 
China Overseas Shipping Group’s investment in the port of Piraeus outside of Athens ranks as one of the most successful Greek privatizations in recent decades.




 


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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