RECENT NEWS
guardian.co.uk  6 hrs ago  Comment 
Protest, for better employment rights, is latest in series that has hindered rubbish collection in major cities in Greece Greece has been hit by fresh strike action as thousands of public sector workers marched through Athens in protest against...
guardian.co.uk  Jun 22  Comment 
Last week’s bailout is only a short-term compromise – the two creditors must work together on a proper solution The International Monetary Fund has resurrected an old technique – commonly used in the 1980s during the Latin American debt...
MarketWatch  Jun 21  Comment 
Greek citizens have waited, and suffered, long enough, says Mohamed A. El-Erian, chief economic adviser at Allianz and a former deputy director at the International Monetary Fund.
New York Times  Jun 19  Comment 
At a meeting of the United Nations Human Rights Council, the European Union sought to draw attention to abuses in China, only to be blocked by Greece, which is courting Chinese investment.
Financial Times  Jun 19  Comment 
But Greek growth still held back by policy uncertainty
Forbes  Jun 17  Comment 
Greece’s biggest problem isn't a heavy debt burden. It’s the love affair of its citizens with Soviet-Maoist communism, a system that wastes the country's resources and talent, killing sensible economic growth initiatives.
Channel News Asia  Jun 16  Comment 
Greece welcomed on Friday a deal on new bailout loans as a decisive step to exiting its debt crisis and markets took heart by lowering Greek borrowing costs, even though Spanish and German officials raised last-minute objections.
MarketWatch  Jun 16  Comment 
A new book traces the roots of our runaway self-obsession to ancient Greece.
SeekingAlpha  Jun 16  Comment 
guardian.co.uk  Jun 16  Comment 
Greece agrees deal to unlock €8.5bn in emergency funds European markets rise after Greece finally clinches deal Eurozone inflation slows to 1.4% in May 2.13pm BST That’s it for today folks. Thank you for your comments and have a...




 


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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