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Investing in greece

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CITI: We No Longer Think Greece Will Exit The Eurozone
Clusterstock  2 hrs ago  Comment 
Last summer, Citi's chief economist, Willem Buiter, introduced a bold call: he assigned a 90% probability that Greece would exit the euro on January 1, 2013. This assertion was made before European Central Bank President Mario Draghi introduced...
Lens Blog: Angelos Tzortzinis's Photos of Growing Desperation in Greece
New York Times  6 hrs ago  Comment 
In Greece, the perils of a drawn-out debt crisis are imprinted on its younger population — whose unemployment numbers are soaring — who turn to selling their bodies for money and to a dangerous, cheap new street drug for escape.     
Gazprom drives hard bargain as sole major bidder for Greek DEPA
Reuters  May 21  Comment 
Gazprom is squeezing Athens for better terms to buy DEPA, Greece's sole retail gas distributor, a Greek official said, as the Russian gas export monopoly leverages its strength position as the only major player in the running.     
Gazprom pushes for concessions in sale of Greece's DEPA
Reuters  May 21  Comment 
Greece’s big economic recovery – for investors
The Globe and Mail  May 20  Comment 
While the improving markets mean bettors on the country’s stocks and bonds have made a killing, the real economy is still in dire straits, with the jobless the main sufferers
Greece ETF: An Emerging Markets Star
Benzinga  May 20  Comment 
Last Friday, the Global X FTSE Greece 20 ETF (NYSE: GREK) surged over five percent on volume that was nearly six times the daily average. Much of that move can be attributed to the 19.5 percent gain by National Bank of Greece (NYSE: NBG), the...
Justices Take Case on Prayer at Town Board Meetings
New York Times  May 20  Comment 
A federal appeals court found that though the prayer at meetings in Greece, N.Y., could be given by members of all faiths and atheists, in practice almost all of the chaplains were Christian.     
Council Prayers Get Top Court Review in Church-State Case
Bloomberg  May 20  Comment 
Greece plans to offload Hellenic Postbank, Proton in mid-July
Banking Business Review  May 20  Comment 
The Hellenic Financial Stability Fund (HFSF), Greece's bank rescue fund, is planning to offload two of its non-systemic small lenders namely, Hellenic Postbank and Proton Bank, in the middle of July this year.
Greece Isn’t Turning the Corner
Bloomberg  May 20  Comment 
COMMENTS
Bloomberg  May 20  Comment 
[$] The Unthinkable: Quitting a Currency
Wall Street Journal  May 20  Comment 
Can countries like Greece and Spain endure the unyielding squeeze indefinitely? So far, they say yes. So, too, did Argentines—that is, until they didn't.




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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
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