RECENT NEWS
guardian.co.uk  Oct 10  Comment 
Union says foreign investment funds are exploiting ancient sites in Greece Striking trade unionists in Greece are forcing the shutdown of the country’s prime ancient sites, including the Acropolis, in a one-day protest over privatisation...
Financial Times  Oct 10  Comment 
‘Factors in Greece’s neighbouring countries’ to blame for drop in bank stocks
New York Times  Oct 10  Comment 
American national security agencies this summer handed over secret evidence to Greek authorities that prompted Athens to expel two Russian diplomats.
New York Times  Oct 3  Comment 
Camp Moria, on the Greek island of Lesbos, is a visible reminder of Europe’s hardening stance toward migrants.
Financial Times  Oct 3  Comment 
Country’s largest lender by assets Piraeus Bank worst hit with more than 20% fall
Clusterstock  Oct 3  Comment 
Investors are breathing a sigh of relief after Italy reportedly bowed to European Union pressure and lowered its budget target. What's going on? To say it's been a tumultuous few days in the eurozone's third-largest economy would be somewhat...
Reuters  Oct 1  Comment 
Greece on Monday unveiled next year's budget draft, aiming to attain a bigger primary surplus than that agreed with its international creditors and projecting that economic growth will pick up to 2.5 percent.




 


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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