Country Analysis Greece Pat Essay

Submitted By Pachy0308
Words: 5112
Pages: 21

Country Analysis



Patricia J. Paniagua

BUS 612
Global Strategic Policy
Summer I
Dr. John Laski
07-30, 2014

This paper attempts to contribute to the study and understanding of the phenomenon of globalization and its interplay with Greece national politico-economic, cultural and technological structures. The paper draws on these findings to examine the role of political economy and domestic institutions in the communication of the hegemonic dialogue of globalization. Using a variety of well recognized sources, the paper will present brief information regarding Greece geography, society, and type of government, economy, energy, communications, transportation, military and transportation infrastructure
Using Michael Porter’s concepts about “the competitive advantage of Nations”, the paper will focus on finding if Greece has the National competitiveness to enter into a highly globalized market. The paper also applies Hofstede five dimensions of culture in the study of Greece culture and readiness of their industry to embrace globalized markets. These are all factors must be considered by global strategic managers before deciding to invest or not in a particular nation. Companies that have to deal with political, social and economic unsettled scenarios are risk to be assessed carefully. The paper conclusions provide information that could be used to assert whether Greece provides competitive advantages to globalized companies. The issues constraining Greek competitiveness advantages are identified in the conclusion of the paper, accompanied by relevant policies changes analysis. Finally, the paper concludes with the assessment of economic, political, social reforms outcomes and its advances toward turning Greece into an attractive market to get into.

Located to the south of the Balkan Peninsula, Greece it’s a beautiful and amazing country full of rich history and traditions. After world war II Greece experienced rapid economic and social change, with tourism and shipping becoming major contributors to the economy (BBC News, 2013). The financial crisis of the late 2000s hit Greece particularly hard, as the legacy of high public spending and widespread tax evasion combined with the credit crunch and the resulting recession to leave the country with a crippling debt burden. As a result of all these elements, Greece received two bailouts of approximate of 240 billion euros However, Greece will end up receiving yet another 10 billion euros as part as a financial rescue package from the Euro zone countries (BBC News, 2013). Some important data has been summarized for us by the BBC report series – Greece profile.
Greece's economy shrank by 23% between 2008 and 2013.

Greece has been striving to reduce its debt burden from 160% of GDP to a target figure of 120%.
Greece has also embarked on recapitalizing its banks so as to put them on a sounder footing.
Greece has received - drastic cuts in public spending, which have led to record unemployment levels.
Human rights groups have expressed concern at the increased incidence of violence against ethnic minorities and harder regulation’s on immigration.

Excavations show that the first humans settlement dates from the Palaeolithic era (11,000-3,000 BC). During the second millennium BC, Greece gave birth to the great stone and bronze civilization: the Minoans (2600-1500 BC), the Mycenaeans (1500-1150 BC) and the Cycladic civilization. These were the first important civilizations in the Greek history (Greeka, 2012)
The Classical Period (6th-4th century BC, the peak of the classical period is the 5th century BC, when the grounds of the western civilization were created in Athens. This city-state became the greatest naval power of Greece that time and established all domains of culture, including philosophy, music, drama, rhetoric and even a new regime called