The barriers of Greek Exporters

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Αγαπητοί φοιτητές, να βλέπετε πάντα την αρχειοθήκη ιστολογίου για θέματα εξετάσεων ή για τα βιβλία μου.




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With a population of approximately 11 million, and a GDP of about $370 billion, Greece is a relatively small country. Greece adopted the euro as its new common currency in January 2002. The adoption of the euro provided Greece (formerly a high inflation risk country under the drachma) with access to competitive loan rates and also to low rates of the Eurobond market. This led to a dramatic increase in consumer spending which gave a significant boost to economic growth. This credit also led to a more relaxed fiscal policy starting in 2002, which, combined with expenditures associated with the preparation of the Athens 2004 Olympics, resulted in excessive deficits and debt in 2003 and 2004. The government deficit in 2004 reached 6.6 percent of GDP. As a result of lower post-Olympic spending and tighter fiscal policies, the government deficit dropped to 3.7 percent of GDP in 2008, with a debt to GDP ratio of 94.6 percent, still among the highest in the Euro zone. Greece has averaged 4 percent GDP growth in the period 1997-2007, almost twice the EU average, but official growth rate projections have declined significantly in early 2009. The rate of growth in the short-to medium-term will be dependent upon the impact and recovery time from the global financial crisis and the resulting economic recession.........