RECENT NEWS
New York Times  Jul 8  Comment 
The figures suggest that a deal brokered by the European Union with Turkey has worked, although human rights groups have raised concerns.
newratings.com  Jul 8  Comment 
BRUSSELS (dpa-AFX) - Greece's EU Measure of inflation increased in June, after falling in the previous three months, figures from the Hellenic Statistical Authority showed Friday. The harmonized index of consumer prices, or HICP, rose 0.2...
Benzinga  Jul 7  Comment 
Over the past year, none of the exchange-traded funds tracking the PIIGS economies have traded higher. In some cases, the losses incurred by these single-country ETFs are severe, but none are as bad as the Global X MSCI Greece ET (Global X Funds...
newratings.com  Jul 7  Comment 
BRUSSELS (dpa-AFX) - Greece's unemployment rate dropped for a third straight month to its lowest level in more than four years, data from the Hellenic Statistical Authority showed Thursday. The seasonally adjusted jobless rate fell to 23.3...
The Economic Times  Jul 7  Comment 
Forthnet says to team up with China's ZTE to build Greek network
Financial Times  Jul 6  Comment 
Ferrovie dello Stato tender underscores pressure on Athens to sell off state assets
Financial Times  Jul 6  Comment 
Executives step aside under pressure from international creditors
newratings.com  Jul 6  Comment 
BRUSSELS (dpa-AFX) - Further improvements in investor and customer confidence are needed for Greek authorities to lift bank capital controls, introduced in June 2015 when the "Grexit" crisis played out, Fitch Ratings said Wednesday. "In our...
Reuters  Jul 6  Comment 
Greece's recession will deepen this year with a decline in output of around 1 percent, the influential IOBE think tank said, as the country faces the full brunt of austerity measures imposed under a multi-billion euro bailout.
The Economic Times  Jul 5  Comment 
TAP is developing a mega 2.5 billion oil pipeline spanning 878 km that will extend from the Turkish border to southern Italy, passing through Greece, Albania and the Adriatic sea.




 


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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