RECENT NEWS
Wall Street Journal  Oct 17  Comment 
Greek Prime Minister Antonis Samaras stressed his country was not seeking an extension of its international bailout, but rather a precautionary credit line to protect it from market turmoil.
Clusterstock  Oct 17  Comment 
Stocks in Greece staged a huge rally on Friday, gaining 7.5% to finish the week. It was still an ugly week for the Greek stock market, as the Athens Stock Exchange fell 7.3% this week despite the huge rally on Friday. Greek bank stocks gained...
guardian.co.uk  Oct 17  Comment 
Currency bloc is locked into a low-growth, low-inflation, high-unemployment paradigm Greece loves its epic tales and the greatest of them is the story of Odysseus, the hero who took 10 years to find his way back to Ithaca at the end of the Trojan...
New York Times  Oct 16  Comment 
New protections for officials have enraged critics of the government, who fear long-awaited moves to tackle corruption are being stymied.
Wall Street Journal  Oct 16  Comment 
Greece is seeking aid from Unesco to facilitate the return of the Elgin marbles to Athens




 


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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