Greece achieved independence from the Ottoman Empire in 1830. During the second half of the 19th century and the first half of the 20th century, it gradually added neighboring islands and territories, most with Greek-speaking populations. In World War II, Greece was first invaded by Italy (1940) and subsequently occupied by Germany (1941-44); fighting endured in a protracted civil war between supporters of the king and other anti-communist and communist rebels. Following the latter's defeat in 1949, Greece joined NATO in 1952. In 1967, a group of military officers seized power, establishing a military dictatorship that suspended many political liberties and forced the king to flee the country. In 1974 following the collapse of the dictatorship, democratic elections and a referendum created a parliamentary republic and abolished the monarchy. In 1981, Greece joined the EC (now the EU); it became the 12th member of the European Economic and Monetary Union (EMU) in 2001. Greece has suffered a severe economic crisis since late 2009, due to nearly a decade of chronic overspending and structural rigidities. Since 2010, Greece has entered three bailout agreements with the European Commission, the European Central Bank (ECB), the IMF, and with the third, the European Stability Mechanism (ESM). The Greek Government agreed to its current, $96 billion bailout in August 2015, which will conclude in August 2018.

Southern Europe, bordering the Aegean Sea, Ionian Sea, and the Mediterranean Sea, between Albania and Turkey

39 00 N, 22 00 E

Europe

slightly smaller than Alabama

13,676 km

temperate; mild, wet winters; hot, dry summers

mountainous with ranges extending into the sea as peninsulas or chains of islands

highest point: Mount Olympus 2,917 m

lignite, petroleum, iron ore, bauxite, lead, zinc, nickel, magnesite, marble, salt, hydropower potential

arable land 19.7%; permanent crops 8.9%; permanent pasture 34.8%

15,550 sq km (2012)

one-third of the population lives in and around metropolitan Athens; the remainder of the country has moderate population density mixed with sizeable urban clusters

severe earthquakes

air pollution; water pollution

strategic location dominating the Aegean Sea and southern approach to Turkish Straits; a peninsular country, possessing an archipelago of about 2,000 islands

10,768,477 (July 2017 est.)

population: Greek 93%, other (foreign citizens) 7% (2001 census)

Greek (official) 99%, other (includes English and French) 1%

Greek Orthodox (official) 98%, Muslim 1.3%, other 0.7%

-0.06% (2017 est.)

8.4 births/1,000 population (2017 est.)

11.3 deaths/1,000 population (2017 est.)

2.3 migrant(s)/1,000 population (2017 est.)

one-third of the population lives in and around metropolitan Athens; the remainder of the country has moderate population density mixed with sizeable urban clusters

ATHENS (capital) 3.052 million (2015)

29.8 years (2014 est.)

3 deaths/100,000 live births (2015 est.)

1.43 children born/woman (2017 est.)

8.1% of GDP (2014)

6.26 physicians/1,000 population (2014)

4.8 beds/1,000 population (2009)

urban: 100% of population

rural: 100% of population

total: 100% of population

urban: 0% of population

rural: 0% of population

total: 0% of population (2015 est.)

urban: 99.2% of population

rural: 98.1% of population

total: 99% of population

urban: 0.8% of population

rural: 1.9% of population

total: 1% of population (2015 est.)

NA

NA (2016 est.)

NA

24.9% (2016)

parliamentary republic

13 regions (perifereies, singular - perifereia) and 1 autonomous monastic state* (aftonomi monastiki politeia); Agion Oros* (Mount Athos), Anatoliki Makedonia kai Thraki (East Macedonia and Thrace), Attiki (Attica), Dytiki Ellada (West Greece), Dytiki Makedonia (West Macedonia), Ionia Nisia (Ionian Islands), Ipeiros (Epirus), Kentriki Makedonia (Central Macedonia), Kriti (Crete), Notio Aigaio (South Aegean), Peloponnisos (Peloponnese), Sterea Ellada (Central Greece), Thessalia (Thessaly), Voreio Aigaio (North Aegean)

3 February 1830 (from the Ottoman Empire); note - 25 March 1821, outbreak of the national revolt against the Ottomans; 3 February 1830, signing of the London Protocol recognizing Greek independence by Great Britain, France, and Russia

Independence Day, 25 March (1821)

civil legal system based on Roman law

accepts compulsory ICJ jurisdiction with reservations; accepts ICCt jurisdiction

17 years of age; universal and compulsory

Anticapitalist Left Cooperation for the Overthrow or ANTARSYA [collective leadership]

Coalition of the Radical Left or SYRIZA [Alexios (Alexis) TSIPRAS]

Communist Party of Greece or KKE [Dimitrios KOUTSOUMBAS]

Democratic Left or DIMAR [Athanasios (Thanasis) THEOCHAROPOULOS]

Independent Greeks or ANEL [Panagiotis (Panos) KAMMENOS]

Movement of Democratic Socialists or KIDISO [Georgios PAPANDREOU]

New Democracy or ND [Kyriakos MITSOTAKIS]

Panhellenic Socialist Movement or PASOK [Foteini (Fofi) GENIMMATA]

People's Association-Golden Dawn [Nikolaos MICHALOLIAKOS]

Popular Unity or LAE [Panagiotis LAFAZANIS]

To Potami (The River) [Stavros THEODORAKIS]

Union of Centrists or EK [Vasilis LEVENTIS]

Supreme Administration of Civil Servants Unions or ADEDY [Spyros PAPASPYROS]

Federation of Greek Industries or SEV [Theodore FESSAS]

General Confederation of Greek Workers or GSEE [Ioannis PANAGOPOULOS]

Australia Group, BIS, BSEC, CD, CE, CERN, EAPC, EBRD, ECB, EIB, EMU, ESA, EU, FAO, FATF, IAEA, IBRD, ICAO, ICC (national committees), ICCt, ICRM, IDA, IEA, IFAD, IFC, IFRCS, IGAD (partners), IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC (NGOs), MIGA, NATO, NEA, NSG, OAS (observer), OECD, OIF, OPCW, OSCE, PCA, Schengen Convention, SELEC, UN, UNCTAD, UNESCO, UNHCR, UNIDO, UNIFIL, UNWTO, UPU, WCO, WFTU (NGOs), WHO, WIPO, WMO, WTO, ZC

nine equal horizontal stripes of blue alternating with white; a blue square bearing a white cross appears in the upper hoist-side corner; the cross symbolizes Greek Orthodoxy, the established religion of the country; there is no agreed upon meaning for the nine stripes or for the colors

Greek cross (white cross on blue field, arms equal length); national colors: blue, white

Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 18% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP.

The Greek economy averaged growth of about 4% per year between 2003 and 2007, but the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. By 2013, the economy had contracted 26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP in 2007-08, but violated it in 2009, when the deficit reached 15% of GDP. Deteriorating public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies to downgrade Greece's international debt rating in late 2009 and led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government accepted a bailout program that called on Athens to cut government spending, decrease tax evasion, overhaul the civil-service, health-care, and pension systems, and reform the labor and product markets. Austerity measures reduced the deficit to 4.5% in 2016. Successive Greek governments, however, failed to push through many of the most unpopular reforms in the face of widespread political opposition, including from the country's powerful labor unions and the general public.

In April 2010, a leading credit agency assigned Greek debt its lowest possible credit rating, and in May 2010, the IMF and euro-zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. Greece, however, struggled to meet the targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal called for holders of Greek government bonds to write down a significant portion of their holdings to try to alleviate Greece’s government debt burden. However, Greek banks, saddled with a significant portion of sovereign debt, were adversely affected by the write down and $60 billion of the second bailout package was set aside to ensure the banking system was adequately capitalized.

In 2014, the Greek economy began to turn the corner on the recession. Greece achieved three significant milestones: balancing the budget - not including debt repayments; issuing government debt in financial markets for the first time since 2010; and generating 0.7% GDP growth — the first economic expansion since 2007.

Despite the nascent recovery, widespread discontent with austerity measures helped propel the far-left Coalition of the Radical Left (SYRIZA) party into government in national legislative elections in January 2015. Between January and July 2015, frustrations between the SYRIZA-led government and Greece’s EU and IMF creditors over the implementation of bailout measures and disbursement of funds led the Greek government to run up significant arrears to suppliers and Greek banks to rely on emergency lending, and also called into question Greece’s future in the euro zone. To stave off a collapse of the banking system, Greece imposed capital controls in June 2015 shortly before rattling international financial markets by becoming the first developed nation to miss a loan payment to the IMF. Unable to reach an agreement with creditors, Prime Minister Alexios TSIPRAS held a nationwide referendum on 5 July on whether to accept the terms of Greece’s bailout, campaigning for the ultimately successful “no” vote. The TSIPRAS government subsequently agreed, however, to a new $96 billion bailout in order to avert Greece’s exit from the monetary bloc. On 20 August, Greece signed its third bailout which allowed it to cover significant debt payments to its EU and IMF creditors and ensure the banking sector retained access to emergency liquidity. The TSIPRAS government — which retook office on 20 September after calling new elections in late August — successfully secured disbursal of two delayed tranches of bailout funds. Despite the economic turmoil, Greek GDP did not contract as sharply as feared, with official estimates of a -0.2% contraction in 2015, boosted in part by a strong tourist season.

In 2016, Greece saw slight improvements in GDP and unemployment. The economy remains stagnant, because of unfinished economic reforms, a massive non-performing loan problem, and ongoing uncertainty regarding the political direction of the country. Some estimates put Greece’s black market at 20- to 25% of GDP, as more people have stopped reporting their income to avoid paying taxes that, in some cases, have risen to 70% of an individual’s gross income. These issues will continue to be a drag on the economy in 2017 and further delay recovery from the financial crisis.

$289.3 billion (2016 est.)

$285.6 billion (2015 est.)

$283.2 billion (2014 est.)

$194.6 billion (2016 est.)

0% (2016 est.)

-0.2% (2015 est.)

0.4% (2014 est.)

$26,800 (2016 est.)

$26,600 (2015 est.)

$26,500 (2014 est.)

9.9% of GDP (2016 est.)

9.9% of GDP (2015 est.)

10.2% of GDP (2014 est.)

wheat, corn, barley, sugar beets, olives, tomatoes, wine, tobacco, potatoes; beef, dairy products

tourism, food and tobacco processing, textiles, chemicals, metal products; mining, petroleum

1.6% (2016 est.)

4.785 million (2016 est.)

23.6% (2016 est.)

25% (2015 est.)

36% (2014 est.)

36.7 (2012 est.)

35.7 (2011)

49.8% of GDP (2016 est.)

0.7% of GDP (2016 est.)

179.4% of GDP (2016 est.)

177.7% of GDP (2015 est.)

calendar year

0% (2016 est.)

-1.7% (2015 est.)

0.05% (31 March 2016)

0.15% (11 June 2014)

5.62% (31 December 2016 est.)

5.89% (31 December 2015 est.)

$86.53 billion (31 December 2016 est.)

$86.69 billion (31 December 2015 est.)

$138.9 billion (31 December 2016 est.)

$141.5 billion (31 December 2015 est.)

$231.4 billion (31 December 2016 est.)

$259.6 billion (31 December 2015 est.)

$42.08 billion (31 December 2015 est.)

$55.15 billion (31 December 2014 est.)

$82.59 billion (31 December 2013 est.)

$-1.238 billion (2016 est.)

$228.3 million (2015 est.)

$27.1 billion (2016 est.)

$27.5 billion (2015 est.)

food and beverages, manufactured goods, petroleum products, chemicals, textiles

Italy 11.2%, Germany 7.7%, Cyprus 6.4%, Turkey 5.3%, Bulgaria 5.2%, US 4.3%, UK 4.2%, Lebanon 4.1% (2016)

$45.45 billion (2016 est.)

$46.62 billion (2015 est.)

machinery, transport equipment, fuels, chemicals

Germany 11.1%, Italy 8.8%, China 6.6%, Russia 6.4%, Netherlands 5.5%, Iraq 5.4%, France 4.4%, South Korea 4.1% (2016)

$6.893 billion (31 December 2016 est.)

$6.026 billion (31 December 2015 est.)

$506.6 billion (31 March 2016 est.)

$468.2 billion (31 March 2015 est.)

$30.8 billion (31 December 2016 est.)

$27.73 billion (31 December 2015 est.)

$32.91 billion (31 December 2016 est.)

$32.17 billion (31 December 2015 est.)

euros (EUR) per US dollar -

0.9214 (2016 est.)

0.885 (2015 est.)

0.885 (2014 est.)

0.7634 (2013 est.)

0.7752 (2012 est.)

48.34 billion kWh (2015 est.)

53.05 billion kWh (2015 est.)

1.037 billion kWh (2016 est.)

9.833 billion kWh (2016 est.)

18.94 million kW (2015 est.)

56.8% of total installed capacity (2015 est.)

0% of total installed capacity (2015 est.)

14.2% of total installed capacity (2015 est.)

26.8% of total installed capacity (2015 est.)

3,172 bbl/day (2016 est.)

3,082 bbl/day (2016 est.)

477,400 bbl/day (2016 est.)

10 million bbl (1 January 2017 es)

626,000 bbl/day (2016 est.)

299,600 bbl/day (2016 est.)

351,700 bbl/day (2016 est.)

181,000 bbl/day (2016 est.)

4 million cu m (2015 est.)

4.354 billion cu m (2015 est.)

0 cu m (2014 est.)

3.162 billion cu m (2015 est.)

991.1 million cu m (1 January 2017 es)

78 million Mt (2013 est.)

Broadcast media dominated by the private sector; roughly 150 private TV channels, about ten of which broadcast nationwide; 1 government-owned terrestrial TV channel with national coverage; 3 privately owned satellite channels; multi-channel satellite and cable TV services available; upwards of 1,500 radio stations, all of them privately owned; government-owned broadcaster has 2 national radio stations (2014)

.gr

SX (2016)

77 (2013)

9 (2013)

gas 1,329 km; oil 94 km (2013)

6 km (the 6-km-long Corinth Canal crosses the Isthmus of Corinth; it shortens a sea voyage by 325 km) (2012)

2.56% of GDP (2016)

2.54% of GDP (2015)

2.34% of GDP (2014)

2.36% of GDP (2013)

2.41% of GDP (2012)

Hellenic Army (Ellinikos Stratos, ES), Hellenic Navy (Elliniko Polemiko Navtiko, EPN), Hellenic Air Force (Elliniki Polemiki Aeroporia, EPA) (2013)

19-45 years of age for compulsory military service; during wartime the law allows for recruitment beginning January of the year of inductee's 18th birthday, thus including 17 year olds; 18 years of age for volunteers; conscript service obligation is 1 year for the Army and 9 months for the Air Force and Navy; women are eligible for voluntary military service (2014)

Greece and Turkey continue discussions to resolve their complex maritime, air, territorial, and boundary disputes in the Aegean Sea; Greece rejects the use of the name Macedonia or Republic of Macedonia; the mass migration of unemployed Albanians still remains a problem for developed countries, chiefly Greece and Italy

a gateway to Europe for traffickers smuggling cannabis and heroin from the Middle East and Southwest Asia to the West and precursor chemicals to the East; some South American cocaine transits or is consumed in Greece; money laundering related to drug trafficking and organized crime