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Jul 11
Last Updated on 21 July 2011

Economical info

The years 2009-2011 could be characterized as the worst for the Greek economy, which was severely infected from the economic crisis deriving from the USA. The already ailing greek economy received a massive speculative attack as the most feasible country of the eurozone.In November 2010, Greece asked financial help from the European Union, because of the speculative games of the markets. The EU, in order to protect Greece and Euro, created a special mechanism of financial support. In this mechanism the participants were the EU, the European Central Bank and the International Monetary Fund. This situation remains until now, while a new loan is prepared in order to cover Greece's financial obligations and while Ireland and Portugal have already joined the same mechanism.

In spite of the crisis, the situation in some financial sectors is very good for the Greek economy. In the sailing sector, the Greek fleet is globally the biggest of all and its revenues were and are really important. Talking about the port of Piraeus, the environment of competitiveness has dramatically changed since the time the greek government sold the one jetty to the Chinese company COSCO.

For any other information concerning the economic climate of greece, you can visit:




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