Economics

Greece has a mixed capitalist economy. The public sector accounts for one half of the gross nation product, which is $13,900 per capita. Greece is partial member of the European Union. They receive aid from the EU that makes up 4% of the gross national product. Greece is working on lowering their inflation rate in the hopes of being allowed to use the Euro. Last year (2000) inflation was 2.6%, the lowest in twenty-six years. Greece has desired to be a part of Western Europe since the Turks were defeated. Their membership in the EU demonstrates the partial success of this goal. It seems however that a true sense of belonging may not arise until Greece is incorporated into Euro using Europe.

The main industries in Greece are food and tobacco processing, textiles, printing, chemical, metal products, mining, petroleum, shipping, and tourism. In Athens, tourism plays a very large role. High real estate prices, government incentives, and laws to move industry out of the city have contributed to a decline in industrial employment in Athens. Manufacturing also tends to be decentralized. In 1994 the region had an industrial employment rate of 19.6%. Athens proper had a rate of 20.7%. The primary sector makes up 1.52% of employment, the secondary sector composes 27.63% of employment, and tertiary employment provides 70.85% of the total, as of 1991. Also, 61% of employment in Greece is in the Attica region and the great majority of tertiary employment is in Athens (for example, 95% of banking jobs are in Athens). Such heavy primacy in employment, as well as population, has been an issue urban planners have wrestled with throughout the century.

The current central business district of Athens. The Acropolis is in green.