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Article: TURBULENT TIMES
- Article from:
- Global Finance
- Article date:
- June 1, 2009
- Author:
CopyrightCopyright Global Finance Media Inc. Jun 2009. Provided by ProQuest LLC. (Hide copyright information)
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Despite global economic challenges, Greece presents investors with opportunities.
Things are bad everywhere, but they are not as bad here. That sums up the plight of the economy and business climate of Greece amid a global economic and financial market meltdown, according to some experts.
Since its entry into the European Monetary Union (EMU) in 2001, Greece, bolstered by booming investment, has produced GDP growth averaging about 4% - easily faster than the euro area as a whole. Now, as economic output is declining across most of Europe, it is not falling as fast in Greece. "Macro-economic conditions in Greece improved dramatically with entry into the EMU in 2001," says Paul Mylonas, chief ...