RECENT NEWS
guardian.co.uk  17 min ago  Comment 
Rallies held in Bristol, Edinburgh, Leeds, Liverpool and London in support of Greek people who are preparing to vote on whether to accept austerity package Protesters in Britain have urged the cancellation of Greece’s debts as the country’s...
Mondo Visione  51 min ago  Comment 
The EBA today published its regular risk assessment report. The report is based on December 2014 data and the final production date for this report was 12 June 2015. The report therefore does not cover the current challenges posed by the situation...
Clusterstock  3 hrs ago  Comment 
Switching back to the drachma would be chaotic if Greece has to ditch euros. The country will hold a crucial referendum on Sunday.  Millions of citizens will vote "Yes" or "No" on whether their government should accept a set of conditions that...
guardian.co.uk  6 hrs ago  Comment 
Official also believes Sunday’s referendum is escalation of a Greek negotiating strategy that has gone wrong Debt relief was not on the table during negotiations to extend Greece’s existing bailout programme and agree a package of reforms...
Clusterstock  6 hrs ago  Comment 
Greece's supermarkets are being bled dry after the the government announced last week that the country's bailout conditions would be put to a vote on Sunday July 5 – and now it's set to get worse. The announcement led to massive queues for...
Reuters  7 hrs ago  Comment 
Chorus Clean Energy will stick to its plan for a stock market listing, which it delayed due to market turmoil caused by Greece's debt crisis, its chief executive told a...
The Economic Times  8 hrs ago  Comment 
The domestic bourses, that bucked the global market trend as a result of Greek debt-deal stand-off, closed at two-and-a-half-month high levels.
Mondo Visione  8 hrs ago  Comment 
Citizens of Athens, citizens of Greece. Today we are not protesting, today we are not demonstrating–today we are celebrating. Today we are celebrating democracy. Democracy is cause for celebration, democracy is cause for joy;...
guardian.co.uk  9 hrs ago  Comment 
Wolfgang Schäuble softens German approach Yanis Varoufakis: troika “spreading fear”, wants to “humiliate” Greeks No vote does not mean euro exit, says Donald Tusk Greek banks deny plan to raid depositors’ savings London solidarity...




 


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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