RECENT NEWS
Clusterstock  Nov 18  Comment 
By Lefteris Papadimas ATHENS (Reuters) - Greece is locked in tough negotiations with its foreign lenders, with "nerves stretched" on both sides, the finance minister warned on Tuesday, raising the temperature as Athens tries to exit an unpopular...
NPR  Nov 18  Comment 
"Greek coffee" may be a matter of national pride in the Mediterranean nation. But increasingly, Greeks are embracing espresso, an imported brew. Chalk it up to globalization.
guardian.co.uk  Nov 18  Comment 
When governments cut their deficits when the private sector is still shell-shocked by slump, the situation only gets worse Ministers are up to their old game of blaming everyone but themselves for Britain’s economic woes. First, they said they...
guardian.co.uk  Nov 18  Comment 
Last week, Greece came out of recession for the first time in six years. Are you seeing any signs of recovery? Greece’s economy is growing again for the first time in six years, according to figures released by Eurostat on Friday. The...
Reuters  Nov 18  Comment 
Denmark's Carlsberg has agreed to take over Greece's third-largest brewer, Olympic Brewery, bolstering its existing operations in the country and creating what it said would...
MarketWatch  Nov 14  Comment 
A look at the statistics showing the adjustment Greece has had to make before its economy could begin growing again.
TheStreet.com  Nov 14  Comment 
BRUSSELS -- A surprisingly solid performance by France and confirmation that Greece has come out of one of the developed world's deepest recessions in living memory helped the 18-country eurozone grow by more than anticipated in the third quarter...
Financial Times  Nov 14  Comment 
Yahoo  Nov 14  Comment 
By George Georgiopoulos and Deepa Babington ATHENS (Reuters) - Greece emerged from a crippling six-year recession as early as the start of the year and has been growing ever since, data showed on Friday. ...




 


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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