RECENT NEWS
Cellular News  Jun 20  Comment 
Greek authorities are questioning seven of Ericsson's employees following allegations of corruption. Click here for more.
New York Times  Jun 20  Comment 
Greek villagers welcomed the migrants — until Athens got involved.
Reuters  Jun 20  Comment 
Greece's latest austerity measures are choking off one of its few sources of local private investment, the funds management industry, thanks to massive tax hikes buried in 7,500 pages of financial reforms approved by the parliament last month.
newratings.com  Jun 19  Comment 
STOCKHOLM (dpa-AFX) - Ericsson (ERIC) informed about an investigation in Greece relating to a defense agreement signed in 1999. Greek authorities have conducted investigations into arms deals in the Greek defense sector. One investigation...
New York Times  Jun 18  Comment 
Tribulations for the euro, a debt standoff with Greece and a flawed approach to migration all inflamed the angry nationalism spreading across the Continent and Britain.
Reuters  Jun 18  Comment 
Greece could lift most or all capital controls imposed at the height of the euro zone crisis by the end of the year, the head of the country's banking association said on Saturday.
Benzinga  Jun 17  Comment 
You can make money with your wardrobe with the help of an app called Curtsy. According to TechCrunch, the startup Curtsy began after a University of Mississippi sorority sister discovered her Greek sisters were the perfect demographic to help...
guardian.co.uk  Jun 17  Comment 
Latest tranche staves off country’s most pressing problems, but there is widespread concern the deal is simply buying time The prospect of Europe’s febrile politics being injected with another dose of Greek summer drama has been averted after...
The Hindu Business Line  Jun 17  Comment 
For refugees and migrants stuck in Greece, a smartphone is a lifeline — as long as its battery lasts. But access to electricity can be hard to find in overcrowded camps, nor is it always free in c...
Mondo Visione  Jun 17  Comment 
The Board of Directors of the European Stability Mechanism (ESM) today authorised the second tranche of €10.3 billion of ESM financial assistance to Greece. The Board also authorised the first disbursement of this second tranche of €7.5...




 


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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