RECENT NEWS
Times Online  4 hrs ago  Comment 
Archaeologists in Greece have warned that the Acropolis is crumbling and will need work to shore up, it was reported...
New York Times  8 hrs ago  Comment 
The Greek government said Wednesday that it would seek a vote of confidence in Parliament next week in a bid to quash mounting speculation about early elections and to keep flagging economic reforms on track.
MarketWatch  Oct 1  Comment 
For some, a vacation is a time to kick back and relax. But for others, it’s a time to learn something new — be it oenology, Greek mythology or astronomy.
Clusterstock  Oct 1  Comment 
Several years ago, Italian photographer Clara Vannucci was hanging out in a bar in TriBeCa, New York when she met a burly, Greek man name Bobby Zouvelos . The two struck up a conversation and Vannucci, who had recently  photographed inside the...
SeekingAlpha  Oct 1  Comment 
By Wall Street Breakfast: Economy The Centers for Disease Control and Prevention has confirmed that a patient being treated at a Dallas hospital has tested positive for Ebola, the first case diagnosed in the U.S. The patient was placed under...
Wall Street Journal  Sep 30  Comment 
The European Central Bank is considering rules to allow asset-backed securities issued by Greek and Cypriot banks that carry a junk rating to be purchased by the ECB under its new purchase plan.




 


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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