RECENT NEWS
The Economic Times  2 hrs ago  Comment 
Indian indices are expected to remain range-bound in the near term, with the Greece issue and the monsoon set to dictate the direction going ahead.
Reuters  2 hrs ago  Comment 
Austria's Finance Minister said a Greek exit from the euro - or Grexit - "appeared almost inevitable now" and that this would only be possible if Athens first asked to leave the European Union and other countries agreed to its request.
The Hindu Business Line  3 hrs ago  Comment 
Foreign investors pulled out a little over Rs 2,500 crore from the domestic stock markets this month, mainly on account of better returns from Asian peers and uncertainty over Greek debt crisis.
TheStreet.com  5 hrs ago  Comment 
By Raf Casert and Elena Becatoros   ATHENS, Greece -- Greece's parliament voted early Sunday in favor of Prime Minister Alexis Tsipras' motion to hold a July 5 referendum on creditor proposals for reforms in exchange for loans, with the...
Reuters  7 hrs ago  Comment 
Europe's grand project to bind its nations into an unbreakable union by means of a common currency lurched into uncharted waters after EU governments refused funding to save Greece from defaulting on its debts.
The Times of India  8 hrs ago  Comment 
European Council President Donald Tusk said on Sunday that Greece must remain part of the euro single currency area, adding that he was in touch with government leaders to prevent Athens dropping out of the monetary union.
TheStreet.com  Jun 27  Comment 
By Derek Gatopoulos and Demetris NellasBRUSSELS -- Greece's place in the euro currency bloc looked increasingly shaky on Saturday after eurozone nations rejected a month-long extension to its bailout program and the prime minister called for a...




 


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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