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, 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 in 2001. In 2010, the prospect of a Greek default on its euro-denominated debt created severe strains within the EMU and raised the question of whether a member country might voluntarily leave the common currency or be removed.
volcanism:
Santorini (elev. 367 m) has been deemed a Decade Volcano by the International Association of Volcanology and Chemistry of the Earth's Interior, worthy of study due to its explosive history and close proximity to human populations; although there have been very few eruptions in recent centuries, Methana and Nisyros in the Aegean are classified as historically active
strategic location dominating the Aegean Sea and southern approach to Turkish Straits; a peninsular country, possessing an archipelago of about 2,000 islands
elections:
president elected by parliament for a five-year term (eligible for a second term); election last held on 3 February 2010 (next to be held by February 2015); president appoints leader of the party securing plurality of vote in election to become prime minister and form a government
election results:
Karolos PAPOULIAS reelected president; number of parliamentary votes - 266 out of 300
unicameral Hellenic Parliament or Vouli ton Ellinon (300 seats; members elected by direct popular vote to serve four-year terms)
elections:
last held on 17 June 2012 (next scheduled to be held by 2016); note - there was a legislative election on 6 May 2012 in which none of the leaders of the top three parties (New Democracy, Coalition of the Radical Left, and the Panhellenic Socialist Movement) were able to form a government
election results:
percent of vote by party - ND 29.7%, SYRIZA 26.9%, PASOK 12.3%, ANEL 7.5%, Golden Dawn 6.9%, DIMAR 6.3%, KKE 4.5%, other 6.0%; seats by party - ND 129, SYRIZA 71, PASOK 33, ANEL 20, Golden Dawn 18, DIMAR 17, KKE 12; note - only parties surpassing a 3% threshold are entitled to parliamentary seats; parties need 10 seats to become formal parliamentary groups, but can retain that status if the party participated in the last election and received the minimum 3% threshold; note - as of 20 January 2014 the composition of the Parliament was ND 126, SYRIZA 71, PASOK 27, ANEL 17, Golden Dawn 18, DIMAR 14, KKE 12, Independent Democratic Deputies 11, independents 4
highest court(s):
Hellenic Supreme Court of Civil and Penal Law (consists of 56 judges)
judge selection and term of office:
judges selected by the Supreme Judicial Council which includes the president of the Supreme Court, other judges, and the prosecutor of the Supreme Court; judges appointed for life following a 2-year probationary period
subordinate courts:
Supreme Administrative Court; Courts of Appeal; Courts of First Instance; Court of Auditors
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; the exact shade of blue has never been set by law and has varied from a light to a dark blue over time
note:adopted 1864; the anthem is based on a 158 verse poem by the same name, which was inspired by the Greek Revolution of 1821 against the Ottomans; Cyprus also uses "Hymn to Liberty" as its anthem
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, with the deficit reaching 15% of GDP. Austerity measures have reduced the deficit to about 4% in 2013, including government debt payments. 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 adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, overhauling the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to continue pushing through unpopular reforms in the face of widespread unrest 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; in May 2010, the International Monetary Fund 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. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 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 however, called for holders of Greek government bonds to write down a significant portion of their holdings. As Greek banks held a significant portion of sovereign debt, the banking system was adversely affected by the write down and €41 billion of the second bailout package was set aside to ensure the banking system was adequately capitalized. In exchange for the second loan Greece promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, the massive austerity cuts have prolonged Greece's economic recession and depressed tax revenues. Throughout 2013, Greece's lenders called on Athens to step up efforts to increase tax collection, dismiss public servants, privatize public enterprises, and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's efforts to meet bailout conditions led to the departure of one party, the Democratic Left, from the governing coalition when his government made the controversial decision to shut down and restructure the state-owned television and radio company. Subsequent reluctance to institute further cuts and delays in meeting public sector reform targets prompted Greek lenders to withhold bailout fund disbursements until December 2013. However, investor confidence began to show signs of strengthening by the end of 2013 as leading macroeconomic indicators suggested the economy’s freefall had been arrested.
note:see entry for the European Union for money supply in the euro area; the European Central Bank (ECB) controls monetary policy for the 17 members of the Economic and Monetary Union (EMU); individual members of the EMU do not control the quantity of money circulating within their own borders
general assessment:
adequate, modern networks reach all areas; good mobile telephone and international service
domestic:
microwave radio relay trunk system; extensive open-wire connections; submarine cable to offshore islands
international:
country code - 30; landing point for the SEA-ME-WE-3 optical telecommunications submarine cable that provides links to Europe, Middle East, and Asia; a number of smaller submarine cables provide connectivity to various parts of Europe, the Middle East, and Cyprus; tropospheric scatter; satellite earth stations - 4 (2 Intelsat - 1 Atlantic Ocean and 1 Indian Ocean, 1 Eutelsat, and 1 Inmarsat - Indian Ocean region)
Broadcast media dominated by the private sector; roughly 150 private TV channels, about ten of which broadcast nation-wide; 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)
by type:
bulk carrier 262, cargo 49, carrier 1, chemical tanker 68, container 35, liquefied gas 13, passenger 7, passenger/cargo 109, petroleum tanker 302, roll on/roll off 14
foreign-owned:
42 (Belgium 17, Bermuda 3, Cyprus 3, Italy 5, UK 6, US 8)
registered in other countries:
2,459 (Antigua and Barbuda 4, Bahamas 225, Barbados 14, Belize 2, Bermuda 8, Brazil 1, Cabo Verde 1, Cambodia 2, Cayman Islands 9, Comoros 4, Curacao 1, Cyprus 201, Dominica 4, Egypt 8, Gibraltar 8, Honduras 4, Hong Kong 27, Indonesia 1, Isle of Man 62, Italy 7, Jamaica 3, Liberia 505, Malta 469, Marshall Islands 408, Mexico 2, Moldova 1, Panama 379, Philippines 5, Portugal 2, Saint Kitts and Nevis 2, Saint Vincent and the Grenadines 42, Sao Tome and Principe 1, Saudi Arabia 4, Singapore 22, UAE 3, Uruguay 1, Vanuatu 3, Venezuela 4, unknown 10) (2010)
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
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