Business in europe Case Study Example | Topics and Well Written Essays - 3000 words

Business in europe - Case Study Example It is home to some of the world known scholars who have made great contribution to the modern world of education. Greek is a member of the European Unions after joining in 1981. It also a member of the Economic and monitory union of the Europe union which it joined in 200. It is also a member for NATO which it joined in 1952 and OECD since 1961. Greek is credited to be the home of civilization in Europe. This happened in the Aegean Sea which has been shown as the home to the first civilization in Europe. The Minoa civilization in the Crete and Mycenae civilization happened later in the mainland of Greece which emerges with Greek cities of Peninsula and spread to other parts of Europe. At the same time Greece has been able to develop a world class economy. Ti has one of the growing economies in Europe which it has been able to sustain since 1950s. There has been a major shift in the economic constant of Greek for all that time. It has shifted from agrarian economy to a technology driven economy recently. The country has developed a capitalist economy with a GDP of more the $305.595 billion as per the 2006 data. The country has diversified economic activities including tourism, shipping industry, banking, manufacturing and construction, and telecommunications. The country has also been resettled as regional hub for many developing multination companies as they try to venture in the three continents where Greek sits at a juncture. The country has been able to develop a standard economy and there has been an emerging middle class in the country. It has been raked 24th in the 2006 HDI on the quality of life index. According to the IMF, the country has a per capital income of $35,166 which has been places at the same level with other European countries like Germany, France, Italy and others.A historical review of Greece economy Since 1950, Greece stared economic reforms which were aimed at ensuring that the country developed a sustainable economic development plan. From 1950, the country began transforming its economy from an agrarian economy to service and manufacturing industry. Even if there was a slow progress in the economic performance at that time, the government was able to sustain a standard 7% economic growth rate from 1950 to 1970 which has been described as a the economic miracle of the time. At the same time, the government came up with economic policies which were aimed at attracting foreign investors in the country in order stir that economy. Government economic policy there was at the time targeting foreign investors, state intervened in the economic planning and the growth too of tourism. The tourism sector became a major player in the economic growth of the nation. After three decades of economic miracle the economy again stagnated in 1979 and since then it has been struggling to resume it earlier growth without necessarily causing increased inflation rate. (CIA World Fact book, 2006) Until the mid 1970s, the govern policies in Greece had been aimed at ensuring that there was principle look at the growing agriculture and industry sectors, controlling the prices of goods an services and the rate of inflation, improving the financial status of the operating firms, development of natural resources and the creation