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Data problems had been evident over time in several other countries, but in the case of Greece, the problems were so persistent and so severe that the European Commission/Eurostat wrote in its January 2010 Report on Greek Government Deficit and Debt Statistics (page 3): "Revisions of this magnitude in the estimated past government deficit ...
The Greek government-debt crisis began in 2009 and, as of November 2017, was still ongoing. During this period, many changes had occurred in Greece. The income of many Greeks has declined, levels of unemployment have increased, elections and resignations of politicians have altered the country's political landscape radically, the Greek parliament has passed many austerity bills, and protests ...
The economy of Greece is the 52nd largest in the world, with a nominal gross domestic product (GDP) of $252.732 billion per annum. [5] In terms of purchasing power parity, Greece is the world's 54th largest economy, at $436.757 billion per annum. [5]
Now, the European Union and the International Monetary Fund have issued a glowing report card on Greece's. In April, the Greek debt crisis sent shock waves around the world, affecting interest ...
When calculating all sorts of corruption in Greece, the total amount is estimated to be roughly €3.5 billion per year (equal to 1.75% of the Greek GDP). Compared with corruption levels measured by Transparency International for 160 other countries, Greece ranked at 49th in 2004, was down at 57th in 2008, and slumped to 71st in 2009. [28]
Corruption is a problem in Greece. [1] [2] Transparency International stated in 2012 that corruption had played a major role in causing the Greek financial crisis [3] (although the crisis itself was triggered by the global financial crisis of 2007-2008, and Greece's economy had fared well for most of the period up to the aforementioned crisis [4]).
The International Monetary Fund (IMF) admitted that its forecast about Greek economy was too optimistic: in 2010 it described Greece's first bailout programme as a holding operation that gave the eurozone time to build a firewall to protect other vulnerable members, but in 2012 the unemployment rate of Greece became about 25 percent, compared ...
Last year, a whopping 33 million tourists visited Greece—over thrice the country’s population. More tourism means a greater economic boost by propping up local business activities.