RECENT NEWS
Reuters  41 min ago  Comment 
When asked what he thought about the prospect of yet more austerity to be imposed on Greece by its international creditors, Nicos Papapetrou was fairly short.
Forbes  2 hrs ago  Comment 
The third Greek bailout is in crisis as Euros 7 Billion has to be paid by July...once again, Greece does not have the money.
Reuters  3 hrs ago  Comment 
A combination of French political worries, rebounding growth data and progress on Greece's bailout talks tugged euro zone bond markets in all directions on Tuesday.
newratings.com  4 hrs ago  Comment 
CANBERA (dpa-AFX) - Asian stocks were mixed on Tuesday in the absence of cues from U.S. stock markets, which were closed overnight for a federal holiday. While a weaker yen, higher oil prices and some progress on Greek bailout deal lent support,...
The Times of India  5 hrs ago  Comment 
FMCG major Britannia on Tuesday said it has signed an MoU with Greece's cakes and confectionery major Chipita and is in advance stage of discussion to finalise definitive agreements including a joint venture.
Reuters  6 hrs ago  Comment 
Greece and its international lenders agreed on Monday to let teams of experts work out new reforms to Greek pensions, income tax and labour market that would allow Athens to eventually qualify for more cheap loans, euro zone officials said.
New York Times  7 hrs ago  Comment 
Here’s what you need to know to start your day.
Financial Times  8 hrs ago  Comment 
The small size makes it difficult for investors to decipher
guardian.co.uk  Feb 20  Comment 
All the day’s economic and financial news, including the unravelling of Kraft Heinz’s pursuit of Unilever and a Greek bailout meeting Latest: Greece and creditors will discuss fresh measures New measures on tax, pensions and labour market...




 


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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