RECENT NEWS
CNNMoney.com  3 hrs ago  Comment 
Hold that sigh of relief, Greece is not safe yet.
Clusterstock  4 hrs ago  Comment 
By John O'Donnell and Angeliki Koutantou NICOSIA/ATHENS (Reuters) - The European Central Bank will resume normal lending to Greek banks only when it sees Athens is complying with its bailout program and is on track to receive a favorable review,...
The Economist  4 hrs ago  Comment 
A euro in hand is worth two in the bank IN LATE February, as Greece’s new prime minister, Alexis Tsipras, reversed a crucial campaign pledge and infuriated his left-leaning Syriza party by asking for a four-month extension of the country’s...
Yahoo  6 hrs ago  Comment 
Greece cannot rely on the European Central Bank to raise a limit on Athens' issuance of short-term debt, ECB President Mario Draghi suggested on Thursday. He also said the rules meant the ECB could not buy Greek bonds under its new asset-buying...
Financial Times  6 hrs ago  Comment 
ECB bond buying and Greece’s bailout set to dominate
Wall Street Journal  Mar 4  Comment 
Spain’s Prime Minister Mariano Rajoy said his country wants to have the best possible relations with Greece in comments that may help defuse a rare controversy between the two European Union countries.
Yahoo  Mar 4  Comment 
BARCELONA/BRUSSELS (Reuters) - Germany and the European Commission slapped down talk of a third financial rescue for Greece as premature, after Spain once again suggested on Wednesday that a new aid package for Athens was almost inevitable....
SeekingAlpha  Mar 4  Comment 
guardian.co.uk  Mar 4  Comment 
Spain’s economy minister: further Greek rescue inevitable Eurozone PMI surveys signal 0.3% growth in Q1 Greece pushes through T-bills sale Eurozone retail sales surge in January UK services sector growth slows 4.55pm GMT Before...




 


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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