RECENT NEWS
The Hindu Business Line  23 min ago  Comment 
Greece’s new radical left government has no intention of seeking yet another bailout deal from international creditors and will spend coming months trying to ease the terms of its current commitme...
TheStreet.com  3 hrs ago  Comment 
BERLIN (AP) - Germany's Parliament has given its overwhelming approval to the four-month extension of Greece's financial bailout, despite unease over the new government in Athens. Lawmakers voted 542-32 on Friday to back the bailout extension....
Reuters  4 hrs ago  Comment 
Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default on debt repayments in a matter of weeks.
Yahoo  11 hrs ago  Comment 
Greece is expected to get the green light early next week for what could add up to over a billion euros of funding support and investments from the European Bank for Reconstruction and Development, according to sources at the bank. The former...
Benzinga  Feb 27  Comment 
After a very public battle between Greece's new, leftist government and EU policymakers over Greece's bailout program, the two sides reached an 11th hour deal that will keep the nation's economy afloat with another installment of EU...
Clusterstock  Feb 27  Comment 
By Jan Strupczewski and Deepa Babington BRUSSELS/ATHENS (Reuters) - Greece is running out of options to fund itself despite a four-month bailout extension, raising pressure on Athens to quickly implement reforms it has vocally opposed or default...
guardian.co.uk  Feb 27  Comment 
Greece is bravely laying a path towards a democratic Europe, one that is not dominated by the interests of capitalism or Nato “A spectre is haunting Europe” read a recent headline in the Italian newspaper Il Manifesto, announcing the round of...
Forex News  Feb 27  Comment 
Euro is heading higher for now, gaining ground against its major counterparts. After a great deal of political theater, a bailout deal has been reached with Greece, and there is news that euro-denominated emerging market issuance is heading...
MarketWatch  Feb 27  Comment 
The International Monetary Fund broke its own rules when it approved the failed bailout of Greece, writes Darrell Delamaide.




 


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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