RECENT NEWS
guardian.co.uk  42 min ago  Comment 
As the money starts to run out in Athens, Wonga plunges into the red Continue reading...
guardian.co.uk  1 hr ago  Comment 
Jeroen Dijsselbloem, the Dutch finance minister and leader of the Eurogroup says he still expects an agreement to be reached in the coming weeks The head of the Eurogroup of finance ministers has said Greece is running out of money as hopes of a...
TheStreet.com  1 hr ago  Comment 
NEW YORK (TheStreet) -- How will things break for Greece if it decides to get in line with the rest of the Eurozone, starting with the adoption of painful economic reforms? Greek Prime Minister Alexis Tsipras should look no further than Ireland...
MarketWatch  1 hr ago  Comment 
Gold futures settled higher on Tuesday as concerns over debt woes in Greece and ongoing turmoil in the Middle East helped the metal recoup all of what it lost a day earlier. June gold tacked on $9.40, or 0.8%, to settle at $1,203.10 an ounce,...
SeekingAlpha  2 hrs ago  Comment 
Reuters  2 hrs ago  Comment 
* Gazprom says European companies interested in project (Adds comments by Gazprom's head, Eurogroup head)
MarketWatch  2 hrs ago  Comment 
The turmoil surrounding Greece sounds ominous, but the chaos is a shadow of what prevailed just a few years ago.
Market Intelligence Center  3 hrs ago  Comment 
Earnings remain front and center this morning, with a barrage of companies blaming the strong U.S. dollar for their top-line weakness. While the focus remains on the Q1 earnings season, the Greek drama is moving in the background towards its...
Yahoo  5 hrs ago  Comment 
A Greek exit from the euro zone would carry significant risks for the global economy and no one should be under the impression that financial markets have fully priced in such an event, the chairman of the White House Council of Economic Advisers...
MarketWatch  Apr 21  Comment 
The dollar moves lower against its rivals Tuesday, trading 2.3% above its mid-March low against the euro for 2015, while wiping out most of its gains from a day ago, as worries about Greece appeared to recede.




 


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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