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Do not fill this in! == Economy == {{Main|Economy of Greece |List of Greek subdivisions by GDP}} [[File:GDP per capita development of Greece.svg|thumb|upright=1.3|GDP per capita development]] [[File:Greece Product Exports (2019).svg|upright=1.3|thumb|alt=Graphical depiction of Greece's product exports in percent for 2019.|A proportional representation of Greek exports, 2019]] {{As of|2023}}, the economy was the [[List of countries by GDP (PPP)|54th]] largest by [[purchasing power parity]] (PPP) at $417 billion.<ref>{{Cite web|url=https://www.imf.org/en/Publications/WEO/weo-database/2023/October/weo-report|title=Report for Selected Countries and Subjects|website=IMF}}</ref><ref name="World Bank GDP (PPP)">{{cite web |title=Gross domestic product 2013, PPP|url= http://data.worldbank.org/indicator/NY.GDP.MKTP.PP.CD/countries/order%3Dwbapi_data_value_2013%20wbapi_data_value%20wbapi_data_value-last?order=wbapi_data_value_2012%20wbapi_data_value%20wbapi_data_value-last&sort=desc&display=default| publisher=World Bank |access-date=14 February 2015|date=14 February 2015}}</ref> Greece is the 15th largest economy in the 27-member [[European Union]].<ref name="Eurostat GDP">{{cite web|title=Gross domestic product at market prices (tec00001) |url=http://epp.eurostat.ec.europa.eu/portal/page/portal/national_accounts/data/main_tables |publisher=[[Eurostat]] |access-date=22 February 2012 |url-status=dead |archive-url=https://web.archive.org/web/20120814000208/http://epp.eurostat.ec.europa.eu/portal/page/portal/national_accounts/data/main_tables |archive-date=14 August 2012 }}</ref> In per person income, Greece is [[List of countries by GDP (PPP) per capita|51st]] in the world at $40,000. The economy is advanced<ref name="Advanced economies">{{cite web| title= World Economic Outlook |url=http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/text.pdf |archive-url=https://web.archive.org/web/20111018203844/http://www.imf.org/external/pubs/ft/weo/2011/02/pdf/text.pdf |archive-date=18 October 2011 |url-status=live |publisher = [[International Monetary Fund]] |access-date=23 February 2012}}</ref><ref>{{cite web|url=http://www.imf.org/external/pubs/ft/weo/2013/01/weodata/groups.htm#ae|website=World Economic Outlook Database|date=April 2013|title=Groups and Aggregates Information|publisher=[[International Monetary Fund]]|access-date=10 September 2013}}</ref><ref>{{cite web|url=https://www.cia.gov/library/publications/the-world-factbook/appendix/appendix-b.html|archive-url=https://web.archive.org/web/20070613023714/https://www.cia.gov/library/publications/the-world-factbook/appendix/appendix-b.html|url-status=dead|archive-date=13 June 2007|title=Appendix B: International Organizations and Groups|website=[[The World Factbook]]|publisher=[[Central Intelligence Agency]]|access-date=10 September 2013}}</ref><ref name="High income economies">{{cite web |url=http://data.worldbank.org/about/country-classifications/country-and-lending-groups|title=Country and Lending Groups – Data |publisher=World Bank |access-date=3 August 2017 |archive-url=https://web.archive.org/web/20110318125456/http://data.worldbank.org/about/country-classifications/country-and-lending-groups |archive-date=18 March 2011}}</ref><ref>{{cite web|title=WEO Groups and Aggregates Information|url=http://www.imf.org/external/pubs/ft/weo/2014/01/weodata/groups.htm#ae|website=[[World Economic Outlook]] Database|publisher=[[International Monetary Fund]]|access-date=2 August 2014|location=Washington, D.C.|date=8 April 2014}}</ref> and [[high income economy|high-income]].<ref>{{cite web|title=Country and Lending Groups|url=http://data.worldbank.org/about/country-and-lending-groups#OECD_members|publisher=[[World Bank]]|access-date=2 August 2014|location=Washington, D.C.}}</ref><ref name="High income economies"/> Greece is a [[developed country]] with a high [[standard of living]] and high ranking in the [[Human Development Index]].<ref>[http://www.newsweek.com/2010/08/15/interactive-infographic-of-the-worlds-best-countries.html The world's best countries: 2010 index] {{Webarchive|url=https://web.archive.org/web/20110728092003/http://www.newsweek.com/2010/08/15/interactive-infographic-of-the-worlds-best-countries.html |date=28 July 2011 }}, ''Newsweek''. Accessed on line 15 August 2010.</ref><ref>{{cite news|title=The lottery of life|url=https://www.economist.com/news/21566430-where-be-born-2013-lottery-life|newspaper=The Economist|access-date=2 August 2014|location=London|date=21 November 2012}}</ref><ref>{{cite web|title=Table 1: Human Development Index and its components|url=http://hdr.undp.org/en/content/table-1-human-development-index-and-its-components|website=Human Development Report 2014|publisher=[[United Nations Development Programme]]|access-date=2 August 2014|location=New York|date=24 July 2014|archive-date=20 November 2015|archive-url=https://web.archive.org/web/20151120074644/http://hdr.undp.org/en/content/table-1-human-development-index-and-its-components|url-status=dead}}</ref> Its economy mainly comprises the [[service sector]] (85%) and [[industrial sector|industry]] (12%), while agriculture makes up 3%.<ref name="GDP by sector">{{cite web|title=Gross Added Value by Industry (A17; Years 2000–2011) |url=http://www.statistics.gr/portal/page/portal/ESYE/PAGE-themes?p_param=A0702&r_param=SEL12&y_param=2011_00&mytabs=0 |publisher=Hellenic Statistical Authority |access-date=22 March 2012 |location=Piraeus |url-status=dead |archive-url=https://web.archive.org/web/20121113221602/http://www.statistics.gr/portal/page/portal/ESYE/PAGE-themes?p_param=A0702&r_param=SEL12&y_param=2011_00&mytabs=0 |archive-date=13 November 2012 }}</ref> Important Greek industries include [[Tourism in Greece|tourism]] (with 28 million<ref>https://web.archive.org/web/20230802171252/https://webunwto.s3.eu-west-1.amazonaws.com/s3fs-public/2023-05/UNWTO_Barom23_02_May_EXCERPT_final.pdf?VersionId=gGmuSXlwfM1yoemsRrBI9ZJf.Vmc9gYD</ref> international tourists in 2022, it is ranked as the [[World_Tourism_rankings|9th most visited country in the world]] by the [[United Nations World Tourism Organization]]) and [[Greek Merchant Navy|merchant shipping]] (at 18%<ref name="auto">https://unctad.org/system/files/official-document/tdstat47_FS14_en.pdf#:~:text=URL%3A%20https%3A%2F%2Functad.org%2Fsystem%2Ffiles%2Fofficial</ref> of the world's total capacity, the Greek merchant marine is the largest in the world), while the country is a considerable agricultural producer (including fisheries) within the union. In October 2021 unemployment stood at 13% and [[youth unemployment]] at 33%, compared with respectively 7% and 16% in the EU and eurozone.<ref>{{cite web|title=Euro area unemployment at 7.3%|url=https://ec.europa.eu/eurostat/documents/2995521/11563391/3-02122021-AP-EN.pdf/6ebfe4d6-d2e1-372b-1556-3bf4174422dc |archive-url=https://web.archive.org/web/20211202110106/https://ec.europa.eu/eurostat/documents/2995521/11563391/3-02122021-AP-EN.pdf/6ebfe4d6-d2e1-372b-1556-3bf4174422dc |archive-date=2 December 2021 |url-status=live|publisher=[[Eurostat]]}}</ref> Greece has the largest economy in the Balkans,<ref name = BalkanInsight>{{Cite news | url = http://www.balkaninsight.com/en/article/albania-businesses-seek-new-markets-as-greek-crisis-hits-home | newspaper = Balkan Insight | date = 11 July 2012 | first1 = Besar | last1 = Likmeta | last2 = BIRN | first2 = Gjirokastra | title = Albania Eyes New Markets as Greek Crisis Hits Home Businesses affected by the economic downturn in Greece are seeking new markets in the West, hoping that a cheap and qualified labour force will draw fresh clients | quote = Greece is the Balkan region's largest economy and has been an important investor in Southeast Europe over the past decade |access-date=18 April 2014}}</ref><ref name= Keridis>{{cite web | title = Greece and the Balkans: From Stabilization to Growth | first = Dimitris | last = Keridis | url=http://users.uom.gr/~keridis/files/article/article10.doc| quote = Greece has a larger economy than all the Balkan countries combined. Greece is also an important regional investor | type = lecture | publisher = Hellenic Studies Unit at Concordia University | place = Montreal, QC, Canada | date = 3 March 2006}}</ref><ref name="Nicholas Economides">{{cite web|title=The Greek and EU Crisis for non-economists|url=http://www.stern.nyu.edu/networks/Economides_Greek_and_EU_Crisis_Sacramento_04262013.pdf |archive-url=https://web.archive.org/web/20130619151639/http://www.stern.nyu.edu/networks/Economides_Greek_and_EU_Crisis_Sacramento_04262013.pdf |archive-date=19 June 2013 |url-status=live|author=Nicholas Economides |quote=Largest economy than all rest of Balkans combined}}</ref> and an important regional investor.<ref name= BalkanInsight /><ref name=Keridis /> Greece is the number-two foreign investor of capital in Albania, the number-three foreign investor in Bulgaria, at the top-three of foreign investors in Romania and Serbia and the most important trading partner and largest foreign investor of North Macedonia. Greek banks open a new branch somewhere in the Balkans on an almost weekly basis.<ref name="Bell2002" /><ref name="AydinIfantis2004">{{cite book|author1=Mustafa Aydin|author2=Kostas Ifantis|title=Turkish-Greek Relations: The Security Dilemma in the Aegean|url=https://books.google.com/books?id=NuyWdJfQf4kC&pg=PA267|access-date=27 May 2013|date=28 February 2004|publisher=Taylor & Francis|isbn=978-0-203-50191-7|pages=266–267|quote=second largest investor of foreign capital in Albania, and the third largest foreign investor in Bulgaria. Greece is the most important trading partner of the Former Yugoslav Republic of Macedonia.}}</ref><ref name="Thompson2012">{{cite book|author=Wayne C. Thompson|title=Western Europe 2012|url=https://books.google.com/books?id=lKCMvYFQCCMC&pg=PA283|access-date=27 May 2013|date=9 August 2012|isbn=978-1-61048-898-3|page=283|publisher=Stryker Post |quote=Greeks are already among the three largest investors in Bulgaria, Romania and Serbia, and overall Greek investment in the ... Its banking sector represents 16% of banking activities in the region, and Greek banks open a new branch in a Balkan country almost weekly.}}</ref> The Greek telecommunications company [[OTE]] has become a strong investor in other Balkan countries.<ref name="Bell2002">{{cite book|author=Imogen Bell|title=Central and South-Eastern Europe: 2003|url=https://books.google.com/books?id=4CrpzRJCbckC&pg=PA282 |access-date=27 May 2013 |year=2002 |publisher=Routledge|isbn=978-1-85743-136-0|page=282|quote=show that Greece has become the largest investor into Macedonia (FYRM), while Greek companies such as OTE have also developed strong presences in countries of the former Yugoslavia and other Balkan countries.}}</ref> Greece was a founding member of the [[Organisation for Economic Co-operation and Development]] (OECD) and the [[Organization of the Black Sea Economic Cooperation]] (BSEC). In 1979 the accession of the country in the [[European Communities]] and the [[Internal Market (European Union)|single market]] was signed, and the process was completed in 1982. Greece was accepted into the [[Economic and Monetary Union of the European Union]] on 19 June 2000, and in January 2001 adopted the euro as its currency, replacing the [[Modern drachma|Greek drachma]] at an exchange rate of 340.75 drachma to the Euro.<ref name="Drachma exchange rate">{{cite web|title=Fixed Euro conversion rates | url =http://www.ecb.int/euro/intro/html/index.en.html|publisher=European Central Bank|access-date=23 February 2012}}</ref> Greece is also a member of the [[International Monetary Fund]] and the [[World Trade Organization]], and is ranked 24th on the KOF [[Globalization Index]] for 2013. === Debt crisis (2010–2018) === {{Main|Greek government-debt crisis}} [[File:Greek debt and EU average since 1977.png|upright=1.4|thumb|Greece's debt percentage since 1977, compared to the average of the [[eurozone]]]] The economy had fared well in much of the 20th century, with high growth.<ref name="Debt Past">{{cite news|title=2010–2018 Greek Debt Crisis and Greece's Past: Myths, Popular Notions and Implications |url =https://www.academia.edu/37583185 |publisher=Academia.edu |access-date=14 October 2018}}</ref> However, leading up to the [[2007–2008 financial crisis]], it had high structural [[Government budget balance|deficit]]s, and maintained a public [[debt-to-GDP ratio]] of about 100%.<ref name="Debt Past"/> In 2009, it was revealed deficits had for years been considerably higher than official figures.<ref name=":3" /> Banks had developed products which enabled the governments of Greece and other countries to hide their borrowing levels.<ref name="Europe derivatives 2">{{Cite news |date=19 February 2010 |title=Greece is far from the EU's only joker |work=Newsweek |url=http://www.newsweek.com/blogs/wealth-of-nations/2010/02/19/greece-is-far-from-the-eu-s-only-joker.html |access-date=16 May 2011}}</ref><ref>{{Cite news |date=September 2005 |title=How Europe's governments have enronized their debts |work=Euromoney |url=http://www.euromoney.com/Article/1000384/BackIssue/50007/How-Europes-governments-have-enronized-their-debts.html |access-date=1 January 2014}}</ref><ref name="Goldman">{{cite web |title=Greece Paid Goldman $300 Million To Help It Hide Its Ballooning Debts |url=http://www.businessinsider.com/henry-blodget-greece-paid-goldman-300-million-to-help-it-hide-its-ballooning-debts-2010-2 |url-status=dead |archive-url=https://web.archive.org/web/20100420053023/http://www.businessinsider.com/henry-blodget-greece-paid-goldman-300-million-to-help-it-hide-its-ballooning-debts-2010-2 |archive-date=20 April 2010 |access-date=6 May 2010 |website=[[Business Insider]]}}</ref> Banks supplied cash in exchange for future payments by the governments; in turn the liabilities of the countries were "kept off the books".<ref>{{cite news |author=LOUISE STORY |author2=LANDON THOMAS Jr |author3=NELSON D. SCHWARTZ |date=13 February 2010 |title=Global Business: Wall St. Helped to Mask Debt Fueling Europe's Crisis |newspaper=[[The New York Times]] |url=https://www.nytimes.com/2010/02/14/business/global/14debt.html |quote=In dozens of deals across the Continent, banks provided cash upfront in return for government payments in the future, with those liabilities then left off the books. Greece, for example, traded away the rights to airport fees and lottery proceeds in years to come.}}</ref><ref name="Bloomberg">{{cite news |author1=Nicholas Dunbar |author2=Elisa Martinuzzi |date=5 March 2012 |title=Goldman Secret Greece Loan Shows Two Sinners as Client Unravels |publisher=Bloomberg L.P. |url=https://www.bloomberg.com/news/2012-03-06/goldman-secret-greece-loan-shows-two-sinners-as-client-unravels.html |quote=Greece actually executed the swap transactions to reduce its debt-to-gross-domestic-product ratio because all member states were required by the Maastricht Treaty to show an improvement in their public finances," Laffan said in an e-mail. "The swaps were one of several techniques that many European governments used to meet the terms of the treaty."}}</ref><ref name="The Guardian">{{cite news |author=Elena Moya |date=16 February 2010 |title=Banks that inflated Greek debt should be investigated, EU urges |newspaper=[[The Guardian]] |url=https://www.theguardian.com/business/2010/feb/16/greek-debt-goldman-sachs |quote="These instruments were not invented by Greece, nor did investment banks discover them just for Greece," said Christophoros Sardelis, who was chief of Greece's debt management agency when the contracts were conducted with Goldman Sachs.Such contracts were also used by other European countries until Eurostat, the EU's statistic agency, stopped accepting them later in the decade. Eurostat has also asked Athens to clarify the contracts.}}</ref> These conditions enabled Greece to spend beyond its means, while technically meeting the deficit target in the [[Maastricht Treaty]].<ref name="Der Spiegel">{{cite news |author=Beat Balzli |date=8 February 2010 |title=Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt |newspaper=[[Der Spiegel]] |url=http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html |access-date=29 October 2013 |quote=This credit disguised as a swap didn't show up in the Greek debt statistics. Eurostat's reporting rules don't comprehensively record transactions involving financial derivatives. "The Maastricht rules can be circumvented quite legally through swaps," says a German derivatives dealer. In previous years, Italy used a similar trick to mask its true debt with the help of a different US bank.}}</ref><ref name="Goldman" /><ref>{{cite news |author1=Story, Louise |author2=Thomas Jr, Landon |author3=Schwartz, Nelson D. |date=14 February 2010 |title=Wall St. Helped To Mask Debt Fueling Europe's Crisis |work=The New York Times |url=https://www.nytimes.com/2010/02/14/business/global/14debt.html |access-date=6 May 2010}}</ref> The Greek crisis was triggered by the [[Great Recession]], which caused Greece's [[Gross domestic product|GDP]] to contract 2.5% in 2009.<ref>{{Cite book |url=https://www.oecd.org/gov/budgeting/47840787.pdf |title=Restoring public finances |publisher=[[OECD]] |year=2011 |pages=119 |language=en |chapter=Country notes: Greece}}</ref> Simultaneously, deficits were revealed to have been allowed to reach 10% and 15% in 2008 and 2009. This caused Greece's debt-to-GDP ratio to spike to 127%.<ref name="Debt 2009 2017 Eurostat">{{cite news |url=https://ec.europa.eu/eurostat/tgm/refreshTableAction.do?tab=table&plugin=1&pcode=teina225&language=en|title= Eurostat (Government debt data)|work= Eurostat |access-date=5 September 2018}}</ref> As a eurozone member, Greece had no autonomous [[Economic and Monetary Union of the European Union#Monetary policy inflexibility|monetary policy flexibility]], it could not change interest rates or let its exchange rate absorb the shock. Consequently, Greece's borrowing rates increased, making it impossible for it to finance its debt from early 2010. In May 2010, the deficit was estimated to be 14%<ref>{{cite news|title=Papandreou Faces Bond Rout as Budget Worsens, Workers Strike |url=https://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUi3XLUwIIVA |publisher=Bloomberg L.P. |date=22 April 2010 |access-date=2 May 2010 |url-status=dead |archive-url=https://web.archive.org/web/20110623231800/http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aUi3XLUwIIVA |archive-date=23 June 2011 }}</ref> the second highest in the world.<ref>{{cite news| author=Staff | title = Britain's Deficit Third Worst in the World, Table| url =https://www.telegraph.co.uk/finance/financialcrisis/7269629/Britains-deficit-third-worst-in-the-world-table.html| date = 19 February 2010 |access-date=5 August 2011 |work=The Daily Telegraph |location=London }}</ref> Public debt was forecast to reach up to 120% of GDP in 2010,<ref>{{cite news|author1=Melander, Ingrid |author2=Papchristou, Harry | title = Greek Debt To Reach 120.8 Pct of GDP in '10 – Draft| url =https://www.reuters.com/article/greece-budget-debt-idUSATH00496420091105 |work=Reuters | date = 5 November 2009 |access-date=5 August 2011}}</ref> causing a crisis of confidence in Greece's ability to pay back loans. To avert a [[sovereign default]], Greece, other eurozone members, and the [[International Monetary Fund]] agreed on a rescue package which gave Greece an immediate €{{Nowrap|45 billion}} in loans, with additional funds to follow, totaling €{{Nowrap|110 billion}}.<ref>{{cite news|author1=Thesing, Gabi |author2=Krause-Jackson, Flavia |title= Greece Faces 'Unprecedented' Cuts as $159B Rescue Nears |url=https://www.bloomberg.com/news/2010-05-02/greece-faces-unprecedented-cuts-as-159b-rescue-nears.html | publisher=Bloomberg |date=3 May 2010 |access-date=6 May 2010}}</ref><ref>{{cite news |author=Kerin Hope |title=EU Puts Positive Spin on Greek Rescue |url=http://www.ft.com/cms/s/0/08a87e4e-55c4-11df-b835-00144feab49a.html |archive-url=https://ghostarchive.org/archive/20221210201220/https://www.ft.com/content/08a87e4e-55c4-11df-b835-00144feab49a |archive-date=10 December 2022 |url-access=subscription |work=Financial Times |date=2 May 2010 |access-date=6 May 2010 |url-status=live }}</ref> Greece was required to adopt harsh [[Austerity|austerity measures]] to bring its deficit down.<ref>{{cite news|last=Newman |first=Rick |title=Lessons for Congress From the Chaos in Greece |url=https://www.usnews.com/news/blogs/rick-newman/2011/11/03/lessons-for-congress-from-the-chaos-in-greece |access-date=3 November 2011 |newspaper=US News |date=3 November 2011 |url-status=dead |archive-url=https://web.archive.org/web/20111104005053/http://www.usnews.com/news/blogs/rick-newman/2011/11/03/lessons-for-congress-from-the-chaos-in-greece |archive-date=4 November 2011 }}</ref> A second bail-out of €{{Nowrap|130 billion}} (${{Nowrap|173 billion}}) was agreed in 2012, subject to strict conditions, including financial reforms and further austerity.<ref name= BBCQ&A>{{cite news |url=https://www.bbc.co.uk/news/business-13798000 |title= Q&A: Greek debt |work=BBC News Online |access-date=14 May 2012}}</ref> A [[Debt relief|debt haircut]] was agreed.<ref name= BBCQ&A /> Greece achieved a [[balanced budget|budget surplus]] in 2013 and returned to growth in 2014 after years of decline,<ref name="Kathimerini growth">{{cite news|last1=Bensasson|first1=Marcus|title=Greece exited recession in second quarter, says EU Commission|url=http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_04/11/2014_544283|access-date=4 November 2014|work=[[Kathimerini]]|date=4 November 2014}}</ref><ref>{{cite news|title=Greek growth rates put Germany, eurozone to shame|url=http://www.marketwatch.com/story/greek-growth-rates-put-germany-eurozone-to-shame-2014-11-14|access-date=16 November 2014|work=[[MarketWatch]]|date=14 November 2014}}</ref> A third bailout was agreed in 2015, after a confrontation with the newly elected government of [[Alexis Tsipras]]. Partly due to the imposed austerity measures,<ref name=":3">{{Cite news |title=Is the Greek financial crisis over at last? |language=en |newspaper=The Economist |url=https://www.economist.com/the-economist-explains/2018/08/21/is-the-greek-financial-crisis-over-at-last |access-date=26 December 2022}}</ref> Greece experienced a 25% drop GDP between 2009-15.<ref>{{Cite news |date=10 July 2015 |title=The Greek debt crisis story in numbers |language=en-GB |work=BBC News |url=https://www.bbc.com/news/world-europe-33407742 |access-date=26 December 2022}}</ref> This had a critical effect: the debt-to-GDP ratio, jumped from its 2009 level of 127% to about 170%, due to the shrinking economy.<ref name="Debt 2017 Eurostat">{{cite news |url=https://ec.europa.eu/eurostat/documents/2995521/8824854/2-24042018-AP-EN.pdf/2e4cce59-7d36-4894-b21e-9f2c14b81630 |archive-url=https://web.archive.org/web/20180428162026/http://ec.europa.eu/eurostat/documents/2995521/8824854/2-24042018-AP-EN.pdf/2e4cce59-7d36-4894-b21e-9f2c14b81630 |archive-date=28 April 2018 |url-status=live|title= Eurostat (2017 Government debt data)|work= Eurostat |date=24 April 2018 |access-date=5 September 2018}}</ref> In 2013, the IMF admitted it had underestimated the effects of tax hikes and budget cuts and issued an informal apology.<ref name="IMF Guardian">{{cite news |url=https://www.theguardian.com/business/2013/jun/05/imf-admit-mistakes-greek-crisis-austerity |title= IMF 'to admit mistakes' in handling Greek debt crisis and bailout (The Guardian) |date=5 June 2013 |access-date=22 June 2018}}</ref><ref name="IMF Reuters">{{cite news | url=https://www.reuters.com/article/us-imf-greece/for-hard-hit-greeks-imf-mea-culpa-comes-too-late-idUSBRE9550M320130606 |title= For hard-hit Greeks, IMF mea culpa comes too late (Reuters) |date=6 June 2013 |access-date=22 June 2018}}</ref><ref name="IMF Telegraph">{{cite news |url=https://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/ |archive-url=https://ghostarchive.org/archive/20220110/https://www.telegraph.co.uk/business/2016/07/28/imf-admits-disastrous-love-affair-with-euro-apologises-for-the-i/ |archive-date=10 January 2022 |url-access=subscription |url-status=live |title= IMF admits disastrous love affair with the euro and apologises for the immolation of Greece (The Telegraph) |date=29 July 2016 |access-date=22 June 2018}}{{cbignore}}</ref><ref name="Fiscal adjustment">{{cite news |url=http://bruegel.org/2015/02/should-other-eurozone-programme-countries-worry-about-a-reduced-greek-primary-surplus-target/ |title=Should other Eurozone programme countries worry about a reduced Greek primary surplus target? |date=25 February 2015 |access-date=28 May 2017}}</ref> The policies have been blamed for worsening the crisis,<ref name="IMF Bloomberg">{{cite news |url=https://www.bloomberg.com/news/articles/2018-06-18/why-three-rescues-didn-t-solve-greece-s-debt-problem-quicktake |title= Why Three Rescues Didn't Solve Greece's Debt Problem (Bloomberg) |date=18 June 2018 |access-date=22 June 2018}}</ref><ref name="IMF WSJ">{{cite news |url=https://www.wsj.com/articles/will-the-imf-apologize-to-greece-1402863715 |title= Will the IMF Apologize to Greece ? (WSJ) |date=15 June 2014 |access-date=22 June 2018}}</ref> while Greece's president, [[Prokopis Pavlopoulos]], stressed the creditors' share in responsibility.<ref name="Pavlopoulos Statement">{{cite news |url=http://www.ekathimerini.com/229962/article/ekathimerini/news/debt-deal-exceeded-market-expectations-tsipras-says |title= Debt deal exceeded market expectations, Tsipras says (Kathimerini) |date=22 June 2018 |access-date=22 June 2018}}</ref><ref name="Pavlopoulos Moscovici">{{cite news |url= http://www.kathimerini.gr/972843/gallery/epikairothta/politikh/paylopoylos-se-moskovisi-na-mhn-epanalhf8oyn-la8h-poy-odhghsan-se-odynhres-8ysies-ton-lao |title= Pavlopoulos to Moscovici: the mistakes that led to painful sacrifices for the Greek people should not be repeated (Kathimerini, in Greek)) |date=3 July 2018 |access-date=30 July 2018}}</ref> Tsipras asserted that errors in the design of the programmes led to a loss in the economy.<ref name="Tsipras Bloomberg">{{cite news |date=27 June 2018 |title=Tsipras says Greece won't go back to old spending ways |url=https://www.bloomberg.com/news/videos/2018-06-27/tsipras-says-greece-won-t-go-back-to-old-spending-ways-video |access-date=30 July 2018}}</ref><ref name="Debt 2017 Eurostat"/> Greece's bailouts ended in August 2018.<ref name="Bailout exit Reuters">{{cite news |url= https://www.reuters.com/article/us-eurozone-greece-bailout/greece-exits-final-bailout-successfully-esm-idUSKCN1L40OG |title= Greece exits final bailout successfully: ESM |work= Reuters |date=20 August 2018 |access-date=31 August 2018}}</ref> === Agriculture === {{Main|Agriculture in Greece}} [[File:Zante currant drying in Tsilivi.jpg|thumb|Sun-drying of [[Zante currant]] on [[Zakynthos]]]] In 2010, Greece was the [[European Union]]'s largest producer of cotton (183,800 tons) and [[pistachios]] (8,000 tons)<ref name="eurostat agriculture 1">{{cite web|url=http://appsso.eurostat.ec.europa.eu/nui/submitViewTableAction.do |title=Crops products (excluding fruits and vegetables) (annual data) |publisher=[[Eurostat]] |access-date=19 October 2011 |url-status=dead |archive-url=https://web.archive.org/web/20141006122431/http://appsso.eurostat.ec.europa.eu/nui/submitViewTableAction.do |archive-date=6 October 2014 }}</ref> and ranked second in the production of rice (229,500 tons)<ref name="eurostat agriculture 1" /> and olives (147,500 tons),<ref name="eurostat agriculture 2" /> third in the production of [[Common fig|figs]] (11,000 tons),<ref name="eurostat agriculture 2" /> [[almond]]s (44,000 tons),<ref name="eurostat agriculture 2">{{cite web |url=http://appsso.eurostat.ec.europa.eu/nui/show.do |title=Fruits and vegetables (annual data) |publisher=[[Eurostat]] |access-date=19 October 2011}}</ref> tomatoes (1,400,000 tons),<ref name="eurostat agriculture 2" /> and watermelons (578,400 tons)<ref name="eurostat agriculture 2" /> and fourth in the production of tobacco (22,000 tons).<ref name="eurostat agriculture 1" /> Agriculture contributes 3.8% of the country's GDP and employs 12.4% of the country's labor force.<!--ref name="CIAFactBook"/--> Greece is a major beneficiary of the EU's [[Common Agricultural Policy]]. As a result of the country's entry to the European Community, much of its agricultural infrastructure has been upgraded and agricultural output increased. Between 2000 and 2007, [[organic farming]] in Greece increased by 885%, the highest change percentage in the EU.<!--ref name="Eurostat Sustainable" /--> === Energy === {{Main|Energy in Greece}} [[File:SolarGIS-Solar-map-Greece-en.png|thumb|Solar-power generation potential in Greece]] Electricity production in Greece is dominated by the state-owned [[Public Power Corporation of Greece|Public Power Corporation]] (known mostly by its acronym ΔΕΗ, transliterated as DEI). In 2009 DEI supplied for 85.6% of all electric energy demand in Greece,<ref name="DEI 2010">{{cite web |url=http://www.dei.gr/Images/ENG%20REPORT%202010%20FINAL.pdf |title=Public Power Corporation S.A. Financial Report (January 1, 2010 – December 31, 2010) |year=2010 |publisher=[[Public Power Corporation of Greece]] |access-date=24 October 2011 |archive-date=27 September 2011 |archive-url=https://web.archive.org/web/20110927180029/http://www.dei.gr/Images/ENG%20REPORT%202010%20FINAL.pdf |url-status=dead }}</ref> while the number fell to 77.3% in 2010.<ref name="DEI 2010" /> Almost half (48%) of DEI's power output is generated using [[lignite]], a drop from the 51.6% in 2009.<ref name="DEI 2010" /> Twelve percent of Greece's electricity comes from hydroelectric power plants<ref name="Invest in Greece energy">{{cite web |url=http://www.investingreece.gov.gr/default.asp?pid=36§orID=38&la=1 |title=Energy |publisher=Invest in Greece Agency |access-date=26 October 2011 |archive-url=https://web.archive.org/web/20110820004239/http://www.investingreece.gov.gr/default.asp?pid=36§orID=38&la=1 |archive-date=20 August 2011 |url-status=dead }}</ref> and another 20% from natural gas.<ref name="Invest in Greece energy" /> Between 2009 and 2010, independent companies' energy production increased by 56%,<ref name="DEI 2010" /> from 2,709 [[Kilowatt hour|gigawatt hour]] in 2009 to 4,232 GWh in 2010.<ref name="DEI 2010" /> In 2012, renewable energy accounted for 13.8% of the country's total energy consumption,<ref name="Eurostat renewable energy">{{cite web |url=http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&language=en&pcode=tsdcc110&plugin=0 |title=Share of renewable energy in gross final energy consumption % |year=2008 |publisher=[[Eurostat]] |access-date=24 October 2011}}</ref> a rise from the 10.6% it accounted for in 2011,<ref name="Eurostat renewable energy" /> a figure almost equal to the EU average of 14.1% in 2012.<ref name="Eurostat renewable energy" /> 10% of the country's renewable energy comes from [[solar power]],<ref name="Eurostat Sustainable">{{cite web|url=http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-78-09-865/EN/KS-78-09-865-EN.PDF |title=Sustainable development in the European Union |year=2009 |publisher=[[Eurostat]] |access-date=24 October 2011 |url-status=dead |archive-url=https://web.archive.org/web/20110826033757/http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-78-09-865/EN/KS-78-09-865-EN.PDF |archive-date=26 August 2011 }}</ref> while most comes from [[biomass]] and waste recycling.<ref name="Eurostat Sustainable" /> In line with the [[European Commission]]'s Directive on Renewable Energy, Greece aims to get 18% of its energy from renewable sources by 2020.<ref name="Directive">{{cite web |url=http://ec.europa.eu/energy/en/topics/renewable-energy/renewable-energy-directive/cooperation-mechanisms |title=Renewable energy – Targets by 2020 |publisher=[[Eurostat]] |access-date=24 October 2011}}</ref> In 2013, according to the independent power transmission operator in Greece (ΑΔΜΗΕ) more than 20% of the electricity in Greece has been produced from renewable energy sources and hydroelectric powerplants. This percentage in April reached 42%. Greece currently does not have any [[nuclear power plant]]s in operation; however, in 2009 the [[Academy of Athens (modern)|Academy of Athens]] suggested that research in the possibility of Greek nuclear power plants begin.<ref name="Academy of Athens nuclear power">{{cite web|url=http://www.academyofathens.gr/Documents/christoforou_porismata.pdf |title=Πορίσματα της Ομάδας Εργασίας της Επιτροπής Ενέργειας της Ακαδημίας Αθηνών επί του θέματος "Πυρηνική Ενέργεια και Ενεργειακές Ανάγκες της Ελλάδος" |publisher=[[Academy of Athens (modern)|Academy of Athens]] |access-date=24 October 2011 |url-status=dead |archive-url=https://web.archive.org/web/20111122125502/http://www.academyofathens.gr/Documents/christoforou_porismata.pdf |archive-date=22 November 2011 }}</ref> === Maritime industry === {{Main|Greek shipping|List of ports in Greece}} {{See also|Economy of Greece#Maritime industry|label 1=Economy of Greece » Maritime industry}} [[File:Greek tanker ship.png|thumb|[[Greek Merchant Navy|Greek companies]] control 21% of the world's total [[merchant fleet]]<ref>{{cite web|url=https://www.newmoney.gr/roh/palmos-oikonomias/nautilia/korifea-naftiliaki-chora-ston-kosmo-parameni-i-ellada-to-21-tou-pagkosmiou-stolou-me-5-514-plia/|title=Κορυφαία ναυτιλιακή χώρα στον κόσμο παραμένει η Ελλάδα – Το 21% του παγκόσμιου στόλου με 5.514 πλοία|trans-title=Greece remains the world's leading shipping country – 21% of the world fleet with 5,514 ships|website=NewMoney.gr|date=20 May 2022|access-date=9 April 2023|language=Greek}}</ref> making it the largest in the world. They are ranked in the top 5 for all kinds of ships, including first for tankers and bulk carriers.]] The shipping industry has been a key element of Greek economic activity since ancient times.<ref name="shipping">{{cite web|url=http://www.greece.org/poseidon/work/articles/polemis_one.html |title=The History of Greek Shipping |author=Polemis, Spyros M. |publisher=greece.org |access-date=9 April 2007}}</ref> Shipping remains one of the country's most important industries, accounting for 4.5 percent of GDP, employing about 160,000 people (4 percent of the workforce), and representing a third of the trade deficit.<ref name=nbg>{{cite web|author=Press release |url=http://www.nbg.gr/en/pr_release_resb.asp?P_ID=463 |publisher=[[National Bank of Greece]] |title=Greek Shipping Is Modernized To Remain a Global Leader and Expand Its Contribution to the Greek Economy |date=11 May 2006 |access-date=8 April 2007 |archive-url=https://web.archive.org/web/20070831114031/http://www.nbg.gr/en/pr_release_resb.asp?P_ID=463 |archive-date=31 August 2007 |url-status=dead }}</ref> According to the UN the [[Greek Merchant Navy]] is the largest in the world at 18% of global capacity.<ref name="auto"/> The country's merchant fleet ranks first in total tonnage (384 million [[Deadweight tonnage|dwt]]), 2nd in total number of ships (at 4,870),<ref name="auto"/> first in both [[tanker (ship)|tankers]] and dry bulk carriers, fourth in the number of containers, and fifth in other ships.<ref name="BTS">{{cite web|url=http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/maritime_trade_and_transportation/2007/html/table_02_01.html|title=Top 15 Ranking of World Merchant Fleet by Country of Owner, Year-End 2006|publisher=U.S. [[Bureau of Transportation Statistics]]|year=2001|access-date=11 June 2013|archive-url=https://web.archive.org/web/20131029205740/http://www.rita.dot.gov/bts/sites/rita.dot.gov.bts/files/publications/maritime_trade_and_transportation/2007/html/table_02_01.html|archive-date=29 October 2013|url-status=dead}}</ref> However, today's fleet roster is smaller than an all-time high of 5,000 ships in the late 1970s.<ref name=shipping /> Additionally, the total number of ships flying a Greek flag (includes non-Greek fleets) is 1,517, or 5 percent of the world's dwt (ranked fifth globally). During the 1960s, the size of the Greek fleet nearly doubled, primarily through the investment undertaken by the shipping magnates, [[Aristotle Onassis]] and [[Stavros Niarchos]].<ref name="slate">{{cite magazine |url = http://www.slate.com/?id=2124542& |title= So Many Greek Shipping Magnates... |author= Engber, Daniel |magazine=[[Slate (magazine)|Slate]] |date= 17 August 2005 |access-date= 5 August 2011}}</ref> The basis of the modern Greek maritime industry was formed after World War II when Greek shipping businessmen were able to amass surplus ships sold to them by the U.S. government through the Ship Sales Act of the 1940s.<ref name=slate /> Greece has a significant shipbuilding and ship maintenance industry. The six shipyards around the port of Piraeus are among the largest in Europe.<ref>{{cite book|author1=Jill Dubois|author2=Xenia Skoura|author3=Olga Gratsaniti|title=Greece|url=https://books.google.com/books?id=DVzthRVC_SMC&pg=PA42|access-date=14 April 2013|year=2003|publisher=Marshall Cavendish|isbn=978-0-7614-1499-5|page=42|quote=Greek ships make up 70 percent of the European Union's total merchant fleet. Greece has a large shipbuilding and ship refitting industry. Its six shipyards near Piraeus are among the biggest in Europe. As Greek ships primarily transport ...}}</ref> In recent years, Greece has also become a leader in the construction and maintenance of luxury yachts.<ref>{{cite web|url=http://www.ekathimerini.com/216308/article/ekathimerini/business/mega-yacht-owners-choose-greece-for-construction-and-maintenance|title=Mega yacht owners choose Greece for construction and maintenance, Ilias Bellos | Kathimerini|website=www.ekathimerini.com}}</ref> === Tourism === {{Main|Tourism in Greece}} [[File:Blue-dome-Santorini.JPG|alt=|thumb|[[Santorini]], a popular tourist destination, is ranked as the world's top island in many travel magazines and sites.<ref>{{cite web | url = http://www.travelandleisure.com/worldsbest/2011/islands/top-10-islands/237 | work = Travel+Leisure | title = 2011 World's Best Awards | access-date = 16 July 2011 | url-status=dead | archive-url = https://web.archive.org/web/20110712204603/http://www.travelandleisure.com/worldsbest/2011/islands/top-10-islands/237 | archive-date = 12 July 2011 }}</ref><ref>{{cite web | url = http://www.bbc.com/travel/slideshow/20111123-worlds-best-islands | publisher = BBC | access-date = 1 December 2011 | title = World's Best Islands }}</ref>]] Tourism has been a key element of the economic activity in the country and one of the country's most important sectors, contributing 20.6% of the gross domestic product as of 2018.<ref>{{cite web |author1=Chloe Wynne |title=Greek tourism sector growing over three times faster than wider economy says new WTTC research |url=https://www.wttc.org/about/media-centre/press-releases/press-releases/2019/greek-tourism-sector-growing-over-three-times-faster-than-wider-economy-says-new-wttc-research/ |website=WTTC |access-date=21 April 2019}}</ref> Greece was the 9th most visited country in the world in 2022, hosting 27.8 million visitors.<ref name="May2023"/> Greece welcomed over 31.3 million visitors in 2019,<ref>{{cite web |url=https://hellasjournal.com/2019/01/entyposiazoyn-ta-stoicheia-toy-ypoyrgeioy-toyrismoy-ta-esoda-xepernoyn-ta-21-dis-eyro/ |title=Tourism Ministry Statistics Impress |date=30 January 2019 |access-date=24 September 2022}}</ref> and around 28 million in 2016,<ref>{{cite web|url=http://www.newsbeast.gr/travel/arthro/2545878/espase-ta-konter-o-ellinikos-tourismos-to-2016|title="Έσπασε τα κοντέρ" ο ελληνικός τουρισμός το 2016|date=20 January 2017|publisher=Newsbeast.gr|access-date=3 August 2017}}</ref> which is an increase from the 26.5 million tourists it welcomed in 2015 and the 19.5 million in 2009,<ref name="Eurostat Tourism table">{{cite web|url=http://appsso.eurostat.ec.europa.eu/nui/setupModifyTableLayout.do |title=Nights spent in tourist accommodation establishments – regional – annual data |year=2010|publisher=[[Eurostat]] |access-date=10 August 2011}}</ref> and the 17.7 million tourists in 2007,<ref name="Eurostat Tourism">{{cite web|url=http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-HA-10-001-11/EN/KS-HA-10-001-11-EN.PDF|archive-url=https://web.archive.org/web/20110516161713/http://epp.eurostat.ec.europa.eu/cache/ITY_OFFPUB/KS-HA-10-001-11/EN/KS-HA-10-001-11-EN.PDF|archive-date=16 May 2011|title=Tourism |year=2010 |publisher=[[Eurostat]] |access-date=10 August 2011}}</ref> making Greece one of the [[World Tourism rankings#Europe|most visited countries]] in Europe in the recent years. The vast majority of visitors in Greece in 2007 came from the European continent, numbering 12.7 million,<ref name="A2001">{{cite web|url=http://www.statistics.gr/portal/page/portal/ESYE/BUCKET/A2001/Other/A2001_STO03_TB_MM_12_2007_02_F_GR.pdf|archive-url=https://web.archive.org/web/20101114095907/http://www.statistics.gr/portal/page/portal/ESYE/BUCKET/A2001/Other/A2001_STO03_TB_MM_12_2007_02_F_GR.pdf|archive-date=14 November 2010 |script-title=el:02. Αφίξεις αλλοδαπών από το εξωτερικό κατά υπηκοότητα και μέσο ταξιδίου ( Δεκέμβριος 2007 ) |trans-title=02. Arrivals of foreigners from abroad by nationality and means of travel (December 2007) |date=December 2007 |publisher=Hellenic National Statistics Agency|language=el |access-date=10 August 2011}}</ref> while the most visitors from a single nationality were those from the United Kingdom, (2.6 million), followed closely by those from Germany (2.3 million).<ref name="A2001" /> In 2010, the most visited [[modern regions of Greece|region]] of Greece was that of [[Central Macedonia]], with 18% of the country's total tourist flow (amounting to 3.6 million tourists), followed by [[Attica]] with 2.6 million and the [[Peloponnese]] with 1.8 million.<ref name="Eurostat Tourism table" /> [[Northern Greece]] is the country's most-visited geographical region, with 6.5 million tourists, while Central Greece is second with 6.3 million.<ref name="Eurostat Tourism table" /> In 2010, [[Lonely Planet]] ranked Greece's northern and second-largest city of [[Thessaloniki]] as the world's fifth-best party town worldwide, comparable with cities such as [[Dubai]] and [[Montreal]].<ref>{{cite web|url=http://www.lonelyplanet.com/canada/travel-tips-and-articles/39339 |title=Ultimate party cities |publisher=[[Lonely Planet]] |access-date=10 August 2011}}</ref> In 2011, [[Santorini]] was voted as "The World's Best Island" in ''[[Travel + Leisure]]''.<ref name="Best Islands">{{cite magazine|url=http://www.travelandleisure.com/worldsbest/2011/islands/europe-islands/242|archive-url=https://web.archive.org/web/20110712230838/http://www.travelandleisure.com/worldsbest/2011/islands/europe-islands/242|archive-date=12 July 2011|title=World's Best Awards – Islands |magazine=[[Travel + Leisure]] |access-date=10 August 2011}}</ref> Its neighboring island [[Mykonos]], came in fifth in the European category.<ref name="Best Islands" /> There are [[List of World Heritage sites in Greece|19 UNESCO World Heritage Sites]] in Greece,<ref name="Unesco">{{cite web|title=Greece Properties inscribed on the World Heritage List (17)|url=https://whc.unesco.org/en/statesparties/gr |publisher=Unesco}}</ref> and Greece is ranked 17th in the world in terms of total sites. Thirteen further sites are on the tentative list, awaiting nomination.<ref name="Unesco" /> {{wide image|Corfu Town R02.jpg |1200px| Panoramic view of the old [[Corfu City]], a [[UNESCO World Heritage Site]], as seen from the [[Old Fortress, Corfu|Old Fortress]]. The Bay of Garitsa is to the left and the port of [[Corfu]] is just visible on the top right. [[Spianada Square]] is in the foreground.}} === Transport === {{Main|Transport in Greece|Highways in Greece}} [[File:Rio-Antirio bridge.jpg|thumb|The [[Rio–Antirrio bridge]] connects mainland Greece to the [[Peloponnese]]]] [[File:Greekmotorways2017 2.jpg|thumb|Map of Greece's motorway network as of 2022. '''Black'''=Completed routes, '''Blue'''=Under Construction, '''Grey'''=Planned routes]] Since the 1980s, the road and rail network of Greece has been significantly modernised. With a total length of about 2320 km as of 2020, Greece's motorway network is the most extensive in [[Southeastern Europe]] and one of the most advanced in Europe.<ref>{{cite web|url=http://www.ypodomes.com/index.php/alles-ypodomes/endiaferouses-eidiseis/item/35705-aftokinitodromoi-diktyo-2500-xiliometra-mexri-to-2017|title=Αυτοκινητόδρομοι: Δίκτυο 2.500 χιλιόμετρα μέχρι το 2017 - ypodomes.com|access-date=28 July 2017|archive-url=https://web.archive.org/web/20180625185609/https://www.ypodomes.com/index.php/alles-ypodomes/endiaferouses-eidiseis/item/35705-aftokinitodromoi-diktyo-2500-xiliometra-mexri-to-2017|archive-date=25 June 2018|url-status=dead}}</ref> Important works include the [[Egnatia Odos (modern road)|A2 (Egnatia Odos)]] east-west motorway, that connects northwestern Greece ([[Igoumenitsa]]) with northern Greece (Thessaloniki) and northeastern Greece ([[Kipoi, Evros|Kipoi]]); the [[Rio–Antirrio bridge]], the longest suspension cable bridge in Europe ({{convert|2250|m|0|abbr=on}} long), connecting the Peloponnese ([[Rio, Greece|Rio]], {{convert|7|km|0|abbr=on}} from [[Patras]]) with Aetolia-Akarnania ([[Antirrio]]) in western Greece; and the [[Aktio-Preveza Undersea Tunnel]] that passes under the mouth of [[Ambracian Gulf]]. Also completed are the [[Ionia Odos|A5 (Ionia Odos)]] motorway that connects northwestern Greece ([[Ioannina]]) with western Greece (Antirrio); the last sections of the [[Motorway 1 (Greece)|A1 motorway]], connecting Athens to [[Thessaloniki]] and [[Evzonoi]] in northern Greece; the [[Motorway 8 (Greece)|A8 motorway]] (part of the [[Olympia Odos]]) in the Peloponnese, connecting Athens to Patras; and the [[Motorway 7 (Greece)|A7 motorway]] connecting Corinth to Kalamata and Sparta. The remaining section of Olympia Odos, connecting Patras with [[Pyrgos, Ilia|Pyrgos]], is under planning. Other important projects that are currently underway, include the construction of the [[Thessaloniki Metro]], and the Northern Crete Motorway.<ref>{{cite web | last=Καραγιάννης | first=Νίκος | title=ΒΟΑΚ: Εντός του 2023 η ανάδειξη αναδόχου για το οδικό τμήμα Χανιά-Ηράκλειο | website=Ypodomes.com | date=4 August 2023 | url=https://ypodomes.com/voak-entos-toy-2023-i-anadeixi-anadochoy-gia-to-odiko-tmima-chania-irakleio/ | language=el | access-date=6 October 2023}}</ref> The Athens Metropolitan Area in particular is served by some of the most modern and efficient transport infrastructure in Europe, such as the [[Athens International Airport]], the privately run [[Attiki Odos|A6 (Attiki Odos)]] motorway network and the expanded [[Athens Metro]] system. Most of the Greek islands and many main cities of Greece are connected by air mainly from the two major Greek airlines, [[Olympic Air]] and [[Aegean Airlines]]. Maritime connections have been improved with modern high-speed craft, including [[hydrofoils]] and [[catamarans]]. Railway connections play a somewhat lesser role in Greece than in many other European countries, but they too have also been expanded, with new suburban/[[commuter rail]] connections, serviced by [[Proastiakos]] around Athens, towards its airport, [[Kiato]] and [[Chalcis|Chalkida]]; around Thessaloniki, towards the cities of [[Larissa]] and [[Edessa, Greece|Edessa]]; and around Patras. A modern intercity rail connection between Athens and Thessaloniki has also been established, while an upgrade to double lines in many parts of the {{convert|2500|km|mi|abbr=on}} network is underway; along with a [[P.A.Th.E./P.|new double track, standard gauge]] railway between [[Athens]] and [[Patras]] (replacing the old [[metre-gauge railway|metre-gauge]] [[Piraeus–Patras railway]]) which is currently under construction and opening in stages.<ref>[http://www.ergose.gr/view.php?&id=19&lang_code=en ERGOSE – Investment Program], 30 March 2016</ref> International railway lines connect Greek cities with the rest of Europe, the Balkans and Turkey. Given Greece's long coastline and large number of islands, maritime transport is particularly important in Greece. All major islands are served by ferries to the mainland. [[Piraeus]], the port of Athens, was the third busiest passenger port in Europe as of 2021. In total, 37 million passengers traveled by boat in Greece in 2019, the second-highest number in Europe.<ref>{{cite web | title=Maritime passenger statistics | website=European Commission | url=https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Maritime_passenger_statistics#Messina_remained_the_largest_EU_passenger_port_in_2021 | ref={{sfnref | European Commission}} | access-date=6 October 2023}}</ref> Greece has 39 active airports, 15 of which serve international destinations.<ref>{{cite web | title=Hellenic Civil Aviation Authority - Our Airports | website=Υπηρεσία Πολιτικής Αεροπορίας - Αρχική | url=http://www.ypa.gr/en/our-airports | ref={{sfnref | Υπηρεσία Πολιτικής Αεροπορίας - Αρχική}} | access-date=6 October 2023}}</ref> [[Athens International Airport]] served over 28 million passengers in 2023.<ref name=AIA>{{cite web|title=Athens International Airport "El.Venizelos" Facts & Figures|url=https://www.aia.gr/company-and-business/the-company/facts-and-figures/ |website=aia.gr|access-date=12 January 2021}}</ref> Most major islands are served by airports, with direct connections to other airports in Europe. === Telecommunications === {{Main|Telecommunications in Greece}} Modern digital information and communication networks reach all areas. There are over {{convert|35000|km|0|abbr=on}} of fiber optics and an extensive open-wire network. Broadband internet availability is widespread in Greece: there were a total of 2,252,653 broadband connections {{as of|2011|alt=as of early 2011}}, translating to 20% broadband penetration.<ref name="cnbc">{{cite news | date = 2 May 2011 | url=http://news.in.gr/science-technology/article/?aid=1231106170 |script-title=el:''Το 20% του πληθυσμού πλησιάζει η διείσδυση της ευρυζωνικότητας στην Ελλάδα'' |trans-title=20% of the population approaching broadband penetration in Greece |language=el |publisher=in.gr |access-date=18 April 2014}}</ref> According to 2017 data, around 82% of the general population used the internet regularly.<ref name="Kathimerini article">{{cite web |url=http://www.kathimerini.gr/922914/article/texnologia/diadiktyo/to--818-twn-ellhnwn-serfarei-sto-diadiktyo|title=Το 81,8 των Ελληνων σερφαρει στο ιντερνετ|trans-title=81.8% of Greeks surf the Internet|publisher=Kathimerini.gr |access-date=28 October 2016}}</ref> [[Internet café]]s that provide net access, office applications and multiplayer gaming are also a common sight in the country, while mobile internet on [[3G]] and [[4G]]- [[LTE (telecommunication)|LTE]] cellphone networks and [[Wi-Fi]] connections can be found almost everywhere.<ref>{{cite web|title=Finding Free WiFi Internet in the Greek Islands |url=http://www.openjourney.com/blogs/josh/free-wifi-internet-greek-islands-47.html|publisher=Open Journey |access-date=20 August 2011|date=29 June 2011}}</ref> 3G/4G mobile internet usage has been on a sharp increase in recent years. Based on 2016 data 70% of Greek internet users have access via 3G/4G mobile.<ref name="Kathimerini article" /> As of July 2022, 5G service is accessible in most of major Greek cities. The United Nations International Telecommunication Union ranks Greece among the top 30 countries with a highly developed information and communications infrastructure.<ref>{{cite web|url=http://www.itu.int/net/pressoffice/backgrounders/general/pdf/5.pdf |archive-url=https://web.archive.org/web/20100216184100/http://www.itu.int/net/pressoffice/backgrounders/general/pdf/5.pdf |archive-date=16 February 2010 |url-status=live |title= ICT Development Index (IDI), 2010 and 2008 |access-date=22 July 2012|publisher=The United Nations Telecommunication Union{{!}}International Telecommunication Union}} p. 15.</ref> === Science and technology === {{Main|List of Greek inventions and discoveries}} [[File:NOESIS.jpg|thumb|upright=.8|[[Thessaloniki Science Center and Technology Museum]]]] The General Secretariat for Research and Technology of the Ministry of Development and Competitiveness is responsible for designing, implementing and supervising national research and technological policy. In 2017, spending on research and development (R&D) reached an all-time high of €2 billion, equal to 1.14 percent of GDP.<ref>{{cite web|url=http://www.greeknewsagenda.gr/index.php/topics/business-r-d/6889-r-d-spending-2017|title=R&D spending in Greece reached a record high in 2017|website=www.greeknewsagenda.gr|date=26 November 2018 |access-date=3 August 2019}}</ref> [[File:Gnpapanikolaou.jpg|thumb|upright=.9|left|[[Georgios Papanikolaou]], a pioneer in [[cytopathology]] and early cancer detection]] Although lower than the EU average of 1.93 percent, between 1990 and 1998, total R&D expenditure in Greece enjoyed the third-highest increase in Europe, after [[Finland]] and Ireland. Greece was ranked 42nd in the [[Global Innovation Index]] in 2023.<ref>{{Cite book |title=Global Innovation Index 2023 | edition=15th |url=https://www.wipo.int/global_innovation_index/en/2023/index.html |access-date=28 October 2023 |date=4 November 2023 |publisher=World Intellectual Property Organization |doi=10.34667/tind.46596 |isbn=9789280534320 |language=en | last1=Dutta | first1=Soumitra | last2=Lanvin | first2=Bruno | last3=Wunsch-Vincent | first3=Sacha | last4=León | first4=Lorena Rivera | last5=World Intellectual Property Organization }}</ref> Greece has major technology parks with incubator facilities and been a member of the [[European Space Agency]] (ESA) since 2005.<ref name=":2">{{cite web |url=http://www.esa.int/About_Us/Business_with_ESA/Greece_becomes_16th_ESA_Member_State |title=Greece becomes 16th ESA Member State |date=22 March 2005 |publisher=ESA |access-date=15 May 2012}}</ref> Cooperation between ESA and the [[Hellenic National Space Committee]] began in 1994 with the signing of the first cooperation agreement. After applying for full membership in 2003, Greece became the ESA's sixteenth member on 16 March 2005. The country participates in the ESA's telecommunication and technology activities and the [[Global Monitoring for Environment and Security]] Initiative.<ref name=":2" /> The [[National Centre of Scientific Research "Demokritos"]] was founded in 1959 and it is the largest multidisciplinary research center in Greece. Today, its activities cover several fields of science and engineering.<ref>{{Cite web |title=National Center for Scientific Research Demokritos (NCSR Demokritos) |url=https://eurocc-greece.gr/demokritos/ |access-date=10 April 2023 |website=EuroCC@Greece |language=en-US}}</ref> Greece has one of the highest rates of tertiary enrollment in the world,<ref>{{cite web|title=School enrollment, tertiary (% gross) – Country Ranking|url=https://www.indexmundi.com/facts/indicators/SE.TER.ENRR/rankings|website=indexmundi.com|publisher=Index Mundi|access-date=26 February 2018}}</ref> while Greeks are well represented in academia worldwide; numerous leading Western universities employ a disproportionately high number of Greek faculty.<ref>{{cite news |title= University reforms in Greece face student protests |newspaper=The Economist|date=6 July 2006 |access-date=19 December 2008|url= http://www.economist.com/world/europe/displaystory.cfm?story_id=E1_STQTVNJ|archive-url= https://web.archive.org/web/20081207061901/http://www.economist.com/world/europe/displaystory.cfm?story_id=E1_STQTVNJ|archive-date= 7 December 2008 }}</ref> Greek scientific publications have grown significantly in terms of [[research impact]], surpassing both the EU and global average from 2012 to 2016.<ref>{{cite web|title=Greek scientific publications increase their impact|url=https://greeknewsagenda.gr/index.php/topics/business-r-d/6869-scientific-publications-increase-impact|website=greeknewsagenda.gr|date=30 October 2018 |access-date=15 May 2020}}</ref> Notable Greek scientists of modern times include [[Georgios Papanikolaou]] (inventor of the [[Pap test]]), mathematician [[Constantin Carathéodory]] (known for the [[Carathéodory theorem (disambiguation)|Carathéodory theorems]] and [[Carathéodory conjecture]]), astronomer [[E. M. Antoniadi]], archaeologists [[Ioannis Svoronos]], [[Valerios Stais]], [[Spyridon Marinatos]], [[Manolis Andronikos]] (discovered the tomb of [[Philip II of Macedon]] in [[Vergina]]), Indologist [[Dimitrios Galanos]], botanist [[Theodoros G. Orphanides]], and scientists such as [[Michael Dertouzos]], [[Nicholas Negroponte]], [[John Argyris]], [[John Iliopoulos]] (2007 [[Dirac Medal (ICTP)|Dirac Prize]] for his contributions on the physics of the [[charm quark]]), [[Joseph Sifakis]] (2007 [[Turing Award]], the "Nobel Prize" of Computer Science), [[Christos Papadimitriou]] (2002 [[Knuth Prize]], 2012 [[Gödel Prize]]), [[Mihalis Yannakakis]] (2005 [[Knuth Prize]]) and physicist [[Dimitri Nanopoulos]]. Summary: Please note that all contributions to Christianpedia may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here. 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