maandag 18 juli 2011

Greece

The historical and cultural heritage of continues to resonate throughout the modern Western world - in its literature, art, philosophy and politics.


Situated in the far south of the Balkan peninsula, combines the towering mountains of the mainland with over 1400 islands, the largest of which is Crete.

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Post-World War II has seen rapid economic and social change. Major contributors to the economy are tourism and shipping.

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The financial crisis of the late 2000s hit particularly hard, as the legacy of high public spending and widespread tax evasion combined with the credit crunch and the resulting recession to leave the country with a crippling debt burden.

In the spring of 2010, amid fears of an imminent default on debt payments, 's fellow eurozone countries agreed an unprecedented $145bn package to rescue its teetering economy. The main condition attached to the loan - drastic cuts in public spending and tax hikes - prompted fears of protracted social unrest and instability.

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