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Economy and Banking Sector of Greece

Greece
Location
Southeastern Europe
EU Status
member since 1981

Greece is a democratic and developed country with an advanced high-income economy, strategically located at the crossroads of Europe, Asia, and Africa. Greece is a member of the European Union and of the Economic Monetary Union.

Currency
EUR (Euro)
Population  (2017)
10 768 193  (0.00%)
Nominal GDP (2017)
177.7 bln EUR  (+0.01%)
Credit Ratings (as of May 2018)
B/B3

Greece has a service oriented ecomony, with important industries being tourism, food and tobacco processing, textiles, chemicals, metal products. In 2009, Greek ecemony suffered a severe financial crisis resulted from a combination of domestic and international factors.

Greece signed 56 double taxation agreements.
Greece signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Greece agreed in substance to use FATCA on 30 November 2014 (Intergovernmental Agreement Model 1): the text of the IGA has not been released and financial institutions operating in Greece are allowed to register on the FATCA website consistent with the treatment of having an IGA in effect provided that Greece continues to demonstrate firm resolve to sign the IGA as soon as possible.

Number of Banks
46
Consolidated Banking Assets (2016)
301.48 bln EUR  (-13.91%)
Deposit Guarantee
100 000 EUR

Greek banking system consists of four domestic systemic banks, several regional cooperative banks and foreign-controlled banks.

See Also