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GREECE
Year of EU entry 1981
Political system Republic
Capital city Athens
Total area 131,957 km2
Population 11 million
Currency euro |
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Overview
Located near the crossroads of Europe and Asia, Greece forms the southern extremity of the Balkan Peninsula in southeast Europe. Its territory includes more than 2,000 islands in the Aegean and Ionian seas, of which only 170 or so are inhabited. Mount Olympus is the highest point in the country.
Greece is one of the cradles of European civilisation, whose ancient scholars made great advances in philosophy, medicine, mathematics and astronomy. Their city-states were pioneers in developing democratic forms of government. The historical and cultural heritage of Greece continues to resonate throughout the modern world - in literature, art, philosophy and politics.
Modern Greece has a republican structure based on the constitution of 1975. The 300 members of the single-chamber parliament are elected for a period of four years. The country is divided into 13 administrative regions.
More than 50% of Greek industry is located in the Greater Athens area. Greece's main economic sectors are agriculture, tourism, construction and shipping.
The best-known contemporary Greeks include the filmmaker Kostas Gavras, the Nobel Prize winner Odysseus Elitis and composer Mikis Theodorakis.
Greek cuisine is based on goat meat and mutton. Fish dishes are also popular. Olive oil, which is produced in large quantities, adds to the distinctive taste of Greek food.
Economy
Greece has a capitalist economy with the public sector accounting for about 40% of GDP and with per capita GDP at least 75% of the leading eurozone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the workforce, mainly in menial jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by about 4.0% between 2003 and 2005, largely because of an investment boom and infrastructure upgrades for the 2004 Athens Olympic Games. Economic growth slowed to about 3% in 2005. Greece has not met the EU's Growth and Stability Pact budget deficit criteria of 3% of GDP since 2000. Public debt, inflation, and unemployment are above the euro-zone average. To overcome these challenges, the Greek Government is expected to continue cutting government spending, reducing the size of the public sector, and reforming the labour and pension systems.
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