RECENT NEWS
guardian.co.uk  2 hrs ago  Comment 
As with Germany in 1953, the real issue is Greece’s need for debt relief, not whether it is deserved The overwhelming truth about the Greek debt crisis is that it’s a massive distraction. Greece accounts for a mere 2% of the eurozone economy...
guardian.co.uk  4 hrs ago  Comment 
‘Grexit’ would weaken German and French banks and cost Berlin up to €77bn, and IMF a slug of its loan Eurozone officials have spent the last four years building a financial buffer big enough to cope with a Greek exit. Ever since 2010 when...
guardian.co.uk  5 hrs ago  Comment 
The sick man of Europe is dying and Sunday’s elections may be the tipping point. Helena Smith reports Greek elections – the Guardian briefing “I will drive you to the wound of Greece. It won’t take long.” Tall, muscular and dark,...
guardian.co.uk  7 hrs ago  Comment 
Leading shares move sharply higher ahead of European Central Bank meeting Leading shares raced to a near seven week high, with Arm among the main risers. The chip designer added 31p to £10.59 ahead of its full year results early next month...
Financial Times  Jan 21  Comment 
Some familiar names and faces will survive Syriza’s expected victory, writes Tony Barber
guardian.co.uk  Jan 21  Comment 
An entire nation in exile is watching as Greece prepares for pivotal vote which could put radical leftwing Syriza into power The Guardian briefing: what you need to know about the elections Young, gifted and Greek – the world’s biggest...
New York Times  Jan 21  Comment 
With high unemployment and a struggling economy, the political field is fractured and includes a party formed just last March that is running third in the polls.




 


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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