Greece: economy today (briefly). Characteristics of the Greek economy. Economy of Ancient Greece

Greece is a unitary state, which is located in the southern part of Europe. According to recent estimates, the country's population is just over 11 million people. The Greek Republic covers an area of 132 thousand square meters. Km. To date, the state is experiencing colossal economic problems, as a result of which endless strikes, riots, speculation and provocation are taking place on the streets of big cities.

Country Description

The capital of Greece is Athens. The main legislative body is the Parliament. Since spring 2015, the president of the republic is Prokopis Pavlopoulos. Independent Greece became in 1821, having separated from the Ottoman caliphate.

A unitary state is located on the Balkan Peninsula. Under the jurisdiction of the country are numerous territorial islands. Greece itself is divided into 13 administrative regions. Washed by Thracian, Ikaria, Aegean, Cretan, Ionian and Mediterranean seas. The common land border with such countries as Albania, Bulgaria, Turkey and Macedonia. The population is 98% professed Orthodoxy. Despite the rich cultural and historical heritage, today's position of Greece in world politics and economy is getting shakier every day. Agrarian and industrial branches prevail in the republic. A significant part of the profitability of the state is also tourism.

The origin of the economy

Ancient Hellas is called the ancient villages, which appeared at the beginning of the first millennium BC. E. On the coast and islands of the Mediterranean Sea. At that time, the most developed civilizations were Rome and Greece. The economy was based on the slave system. It was private property that was the foundation of economic activity.

Civil society and statehood were formed gradually with the development of democratic institutions. Initially, Hellas was an aristocratic republic. The economy of Ancient Greece depended entirely on the economic activities of policies that were formed as a result of community decay. Each such city united the property of all aristocrats. Members of the Pole had political and civil rights. They laid the foundation for monetary and commodity relations. The primary branch of the economy was agriculture, for example, the cultivation of grapes and olives. Cattle breeding followed (sheep, goats, etc.). Craftsmen and farmers engaged in trade. Back in those ancient times, the lands of Hellas were rich in such useful resources as copper, silver, gold, lead and marble.

Development of modern economy

The flowering of financial indicators dates back to 1996. So GNP was about 120 billion dollars. Per person per year is $ 11.5 thousand. Then, according to the dynamic indicators of the increase in profitability among the leaders of European countries, it was just Greece. The economy of the republic at that time was based on successful agriculture and industry. The share of these branches was more than 55%. The rest of the percentages were divided between services and taxes from tourist organizations. Unemployment did not exceed 11%.

The beginning of the 21st century was marked for the country by serious financial changes. Foreign investors were sharply attracted to Greece. On the one hand, it stabilized the economy and closed gaps in some important articles. On the other hand, the national system had to adapt to Western integration. As a result, Greece began to systematically yield to its partners in the European Union. Only a multibillion-dollar loan from American, Italian, French, Swiss and German banks helped maintain capital. Nevertheless, the main characteristic of the Greek economy by sectors remained practically unchanged. The GDP from agriculture is 8.3%, from the industrial zone - up to 27.3%, from services - over 64.4%. At the same time, the needs of citizens in liquid fuels are covered only through imports.

General Economic Indicators

One of the most agrarian-developed powers of Europe for a long time is considered to be Greece. The economy of the country in this equivalent surpasses even some of the primary members of the EU. The only drawback, which hinders the industrial development of Greece, is the average level of production.

The public sector provides slightly less than half of GDP. This is achieved through a well-developed trade and banking system. The share of the income is brought both by insurance companies, and tourist. As for industry, recently the most profitable are the textile, petrochemical, food and metallurgical industries. In turn, the railway communication is poorly developed, which can not be said about air and sea. In general, the Greek economy is briefly characterized by two components: the stagnation of the banking system and the slow growth of GDP. It should be noted that about 20% of the money turnover is occupied by shadow tranches.

Industry and agriculture

The sectoral structure of the country is unevenly developed and disproportionate throughout the territory. But in the sphere of light industry, one of the main powers is again Greece. The economy of the country is replenished by this growth by almost 19%. At the same time, more than 21% of the population are involved in light industry.

Nickel ore, bauxite, emery, magnesite, pyrites are actively mined. Widely developed steel production, mechanical engineering, woodworking. The textile industry is considered to be the priority. Important for the economy is shipping.

Agriculture is based on private farmer associations. Due to them, the Greek economy is replenished by 7% annually, which is about 16 billion dollars. The agricultural spectrum includes livestock, agriculture and fisheries. To date, 41% of the country's lands are occupied by pastures, another 39% - forests and plowing.

Tourist yield

About 20 million visitors visit Greece every year. Tourists bring to the state treasury more than 15% of GDP. The most frequented places are the beaches. Fans of sunbathing and swim come every summer to Athens, Hora, Heraklion, Thessaloniki and other big resort towns. Attract tourists with their beauty and unimaginable atmosphere of harmony and such islands as Rhodes, Crete, Santorini, Peloponnese, Mykonos. It is not superfluous to say about the numerous cruise tours of the Mediterranean.

Nevertheless, in the last couple of years there has been a significant sailing of tourists. Only in the first half of 2015 they were 22% less than predicted. Thus, the economy of Greece missed about 6.8 billion dollars.

Many tourists note that recently it is more profitable to go on vacation to the Crimea, Bulgaria or Turkey. There and the prices are more loyal, and the quality of services is better.

Debt crisis

Every year, Greece's investment loans are inexorably growing. To date, the external debt of the state is more than 450 billion euros. This amount exceeds the annual GDP by almost 2 times. It turns out, in such a once successful country like Greece, the economy hangs in the balance. According to experts, the total debt by 2018 can reach 600 billion euros. This is an unprecedented case, which puzzled not only the Greek banking system, but also European associations. Naturally, there are no dividends in the country, even for a minimum debt repayment.

The government of Greece in a hurry began to offer large investors loyal programs of privatization. However, this will only delay the inevitable. A default in the country has already come.

Causes of the financial crisis

The economy of Greece today is at a stage of stagnation. In January 2015, a new government was formed in the country. The task of the ministers was to find alternative ways to stabilize the economy without the help of the European Central Bank.

In March 2015, Greece refused to pay the debt, seeking in a strict form its partial write-off. In June, the International Monetary Fund discontinued all transactions with Athens. Progress has not been achieved with the Central Bank of Europe. Moreover, in early July the Government supported the results of the referendum on the rejection of EU assistance. Thus, the Greek economy today is a deep default, the way out of which will not be found soon.

Credit Aid

A phantom chance to stabilize the crisis situation is the acceptance of the terms of the European Commission. The organization is ready to give Greece a short-term loan of 7 billion euros. This will help temporarily take the country out of default. However, this amount will have to be repaid before October this year inclusive. Together with the Greek loan, other conditions have been set, which will be approved by the EU special commission.

According to the latest news, it becomes clear that the Alexis Tsipras Party and the majority of parliamentarians voted to approve the deal with the EU. Now Greece will get a chance for a partial economic recovery.