Greece is a marvelous country, the cradle of Western civilization, the place where democracy sprang up. Greece is filled with history, arts, sciences, philosophy and mythology, a magic place where you can always feel like good, relax and enjoy the marvels of nature. It is a special place, a token of the best values of humanity.
Greece is a civilized and developed country, with a capitalist economy, the tourism being a major source of earnings. It is a member of the European Union which exerts a great influence on the entire world in all fields and areas. It also has a high standard of living.
The Greek economy grew considerably until 2007, but starting from 2009 it went into recession as a consequence of the budget deficit and the debts that the government has made. Until 2008 Greece had one of the highest rates in the Euro-zone on its gross domestic product, being considered a country with an advanced high-income economy. Unfortunately, since 2009 the world financial crisis affected not only Greece or the members of the European Union but also all the other countries, even the most developed ones.
In 2009 Greece's economy and budget faced the highest deficit and debts from all the European countries. The inflation, the rate of unemployment, the debts and the budget deficits were considered to be above the average of the European Union in 2010. The government, forced by this economic decline, by the European Union and by the international market collaborators, adopted an austerity program, one of the harshest in Europe.
This austerity program has led to several protests and riots, but also led to a small diminishing of the budget deficit in 2010. This austerity program included reforms, especially in the health and pension systems, in the public sector which included a reduction of dimensions, structural reforms on labor and reforms to industry and product markets
Greece is a civilized and developed country, with a capitalist economy, the tourism being a major source of earnings. It is a member of the European Union which exerts a great influence on the entire world in all fields and areas. It also has a high standard of living.
The Greek economy grew considerably until 2007, but starting from 2009 it went into recession as a consequence of the budget deficit and the debts that the government has made. Until 2008 Greece had one of the highest rates in the Euro-zone on its gross domestic product, being considered a country with an advanced high-income economy. Unfortunately, since 2009 the world financial crisis affected not only Greece or the members of the European Union but also all the other countries, even the most developed ones.
In 2009 Greece's economy and budget faced the highest deficit and debts from all the European countries. The inflation, the rate of unemployment, the debts and the budget deficits were considered to be above the average of the European Union in 2010. The government, forced by this economic decline, by the European Union and by the international market collaborators, adopted an austerity program, one of the harshest in Europe.
This austerity program has led to several protests and riots, but also led to a small diminishing of the budget deficit in 2010. This austerity program included reforms, especially in the health and pension systems, in the public sector which included a reduction of dimensions, structural reforms on labor and reforms to industry and product markets
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