RECENT NEWS
BBC News  54 min ago  Comment 
How spartan were Spartans? Did the Trojans have a horse?
Reuters  Jul 22  Comment 
Shares in Greek renewable energy firm ELTECH Anemos dropped on their first day of trading on the Athens Stock Exchange on Tuesday, as traders said its initial public offering price was seen as expensive.
newratings.com  Jul 21  Comment 
BRUSSELS (dpa-AFX) - Greece's industrial turnover dropped in May from a year ago, but at a slower rate, preliminary figures from the Hellenic Statistical Authority showed Monday. The overall turnover index, which includes both domestic and...
newratings.com  Jul 21  Comment 
BRUSSELS (dpa-AFX) - Greece's current account in May turned to a deficit from a surplus logged in the same month last year, due to larger shortfalls in the trade and income accounts, figures from the Bank of Greece showed Monday. The current...
Forbes  Jul 17  Comment 
Here are four angles on the Greek economy that have come into focus for me, by looking through the lens of a wine glass.
Financial Times  Jul 17  Comment 
Contagion is still an issue, as displayed by recent woes in Portugal, which has damped down investor enthusiasm for a Greek bond sale




 


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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