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All main economic indicators deteriorate further
- The economic outlook has continuously been revised downwards, for 2011 and 2012
- Almost all Greek sectors are negatively affected by the downturn but retail, automotive trade and construction/construction materials are hardest hit
- Business insolvencies: continued default growth in 2011 and 2012
- Due to this, our underwriting stance is very selective.
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General Information
Capital - Athens
Currency - Euro (EUR)
Population - 11.3 million
Main import sources (2010)
- Germany - 10.5%
- Italy - 9.8%
- Russia - 9.7%
- China - 6.0%
- The Netherlands - 5.2%
Main export markets (2010)
- Germany - 10.8%
- Italy - 10.8%
- France - 8.7%
- Cyprus - 7.1%
- Bulgaria - 6.4%
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Date November 2011
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