Greece and the EU

Latest business news about Greece and the European Union.

Greece: country overview — 30 January 2017, 23:20 CET

Greece joined the EC (now the EU) in 1981; it became the 12th member of the European Economic and Monetary Union in 2001. Greece has suffered a severe economic crisis since late 2009, due to nearly a decade of chronic overspending and structural rigidities. Since 2010, Greece has entered three bailout agreements with the European Commission, the European Central Bank (ECB), the IMF, and with the third, the European Stability Mechanism (ESM). The Greek Government agreed to its current, $96 billion bailout in August 2015, which will conclude in August 2018. The most important sectors of Greece's economy in 2015 were wholesale and retail trade, transport, accommodation and food services (25.4 %), public administration, defence, education, human health and social work activities (21.0 %) and real estate activities (17.2 %).Greece's main export partners ar y and Turkey, while its main import partners are Germany, Italy and Russia.

Greece: 400-year-old deal obsolete? — 29 January 2013, 17:03 CET

On May 15, word got out that Greece will go to the polls again on June 17. The left-wing, anti-austerity bloc has a fair chance of victory. Potentially, this could lead to the demise of Greece's place in the eurozone whereas Spain, Portugal, and Ireland may be next.

Task Force for Greece second quarterly report - guide — 16 March 2012, 00:07 CET

The European Commission's Task Force for Greece has presented its second report on the EU support to Greece. It was created to help Greece implement its challenging reform agenda, which is designed to return to growth and create jobs. The Task Force was set up by by EC President Barroso in July 2011. This second report describes progress made in accelerating Greece's absorption capacity of EU funds (above EU average) and in setting up and implementing technical assistance (TA) to Greece in nine key areas with the support of around twenty Member States, the Commission and the IMF.

Second quarterly report of the Task Force for Greece — 15 March 2012, 22:57 CET

The European Commission's Task Force for Greece presented its second report on the EU support to Greece on 15 March 2012. The Task Force for Greece was established by President Barroso following a request from the Greek Prime Minister Papandreou in Summer 2011. The objective is to support the delivery of the Greek adjustment programme and to accelerate the absorption of EU funds through a comprehensive programme of technical assistance.

The Euro area sovereign debt crisis: Safe haven, credit rating agencies and the spread of the fever from Greece, Ireland and Portugal (ECB Working Paper No. 1419) — 10 February 2012, 19:59 CET

Since the intensification of the crisis in September 2008, all euro area long-term government bond yields relative to the German Bund have been characterised by highly persistent processes with upward trends for countries with weaker fiscal fundamentals. Looking at the daily period 1 September 2008 - 4 August 2011, the paper finds that three factors can explain the recorded developments in sovereign spreads: (i) an aggregate regional risk factor, (ii) the country-specific credit risk and (iii) the spillover effect from Greece. Specifically, higher risk aversion has increased the demand for the Bund and this is behind the pricing of all euro area spreads, including those for Austria, Finland and the Netherlands. Country-specific credit ratings have played a key role in the developments of the spreads for Greece, Ireland, Portugal and Spain. Finally, the rating downgrade in Greece has contributed to developments in spreads of countries with weaker fiscal fundamentals: Ireland, Portugal, Italy, Spain, Belgium and France.

EU set to release more loans to keep Greece afloat — 20 June 2011, 00:48 CET

Eurozone finance ministers, gathering in Luxembourg Sunday, were set to release more loans to keep Athens from default in the summer and mull the shape of a second major bailout to appease nervous markets.

EES 2011 Greece National Report — 02 February 2011, 00:16 CET

The Eurochambres Economic Survey 2011 report on Greece gives an overview of the Greek economy in 2010 and provides a detailed analysis of the economic indicators: total turnover, domestic sales, export sales, employment, investment, and business confidence.

Representation of the European Commission in Greece — 29 October 2009, 01:08 CET

Contacts of the European Commission representation in Greece.

Greece Investment Climate 2009 — 29 October 2009, 01:07 CET

Greece provides a reasonably hospitable climate for foreign investment. On the upside, Greece’s membership in the EU’s Economic and Monetary Union offers currency stability, the infrastructure has improved significantly in the last five years, and the ongoing liberalization of the energy and telecommunication markets offer investment opportunities.

Access to finance — 15 June 2012, 17:00 CET

Information about the sources of finance available to SMEs in Greece.

Starting a business in Greece — 15 June 2012, 16:51 CET

An overview of the process of starting a new business in Greece.

Incompatible aid from Hellenic Shipyards - guide — 02 July 2008, 13:17 CET

The European Commission has requested Greece, following an in-depth investigation under EC Treaty state aid rules, to recover more than EUR 230 million of illegal state aid from Hellenic Shipyards S.A. (HSY).

Greece and the euro — 03 February 2008, 23:20 CET

Greece joined the European Union in 1981, and adopted the euro in 2001 in time to be among the first wave of EU countries to launch euro banknotes and coins on 1 January 2002.

Find an office in Greece — 01 September 2006, 00:02 CET

Instant Offices Greece

Greece country profile — 15 June 2012, 16:33 CET

Located near the crossroads of Europe and Asia, Greece forms the southern extremity of the Balkan peninsula in south-east Europe. Greece is a Member State of the EU, joining the European Community in 1981.

Doing Business in Greece — 30 June 2015, 23:57 CET

From the World Bank Group - The first section presents the Ease of Doing Business rank (out of 189 economies) and the distance to frontier (DTF) measure, overall and by topic. The second section summarises the key indicators for each topic benchmarked against regional averages.

British Hellenic Chamber of Commerce — 05 August 2006, 01:01 CET

The main aim of this support network is to promote and facilitate British-Hellenic economic, trade and investment relations through various activities.

International Tax Guide Greece (Deloitte) — 18 June 2015, 13:49 CET

The Taxation and Investment Guides are a first stop for investors wishing to gain a working perspective on the operating conditions and investment climate – including the legal, accounting and taxation framework – in the countries covered in the Deloitte International Tax Source. In addition to the Greece Highlights and Taxation and Investment Guide, above, country links open the door to the Deloitte International Tax Source and a wide range of materials and information on the tax consequences of doing business across borders.