RECENT NEWS
guardian.co.uk  Apr 22  Comment 
Talks with IMF and eurozone have dragged on for months, but fresh funds needed so Greece can pay debt due in July It is “urgent” to reach an agreement on a loan program for Greece but a commitment is still required from Athens on reforms and...
New York Times  Apr 22  Comment 
The Trump administration appears to have little appetite for another European economic relief project. And calls are growing for Europe to help.
Mondo Visione  Apr 21  Comment 
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement today after a meeting with Greece’s Finance Minister Euclid Tsakalotos: “I met today with Minister Tsakalotos and his...
Reuters  Apr 21  Comment 
Greece far exceeded its international lenders' budget demands last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included.
SeekingAlpha  Apr 21  Comment 
guardian.co.uk  Apr 21  Comment 
Retail sales fell by 1.4% during the first three months of 2017 as shoppers were put off by rising prices. It was the biggest quarterly fall in sales since 2010. UK growth expected to slow to 0.4% in Q1 French PMIs: strong growth signalled in...
SeekingAlpha  Apr 20  Comment 
Reuters  Apr 18  Comment 
The International Monetary Fund will not take part in a bailout programme for Greece if it deems the country's debt is unsustainable, the international lender's chief Christine Lagarde said in an interview published on Tuesday.
New York Times  Apr 16  Comment 
Demographers say lower birthrates in Greece and around the south will mean weaker growth and productivity, creating fiscal problems.
Forbes  Apr 15  Comment 
Democratic institutions and high levels of human development will help Greece get out of the unprecedented depression it has slid into, and rise again. All it takes is a nudge, a few pro market measures that will release the ingenuity and...




 


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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