Greece Market Line
Country Profile Series
Greece
In-depth PESTLE insights
PESTLE Country Analysis Report: Greece © MarketLine. This report is a licensed product and is not to be photocopied PUBLICATION DATE: January 2012
REFERENCE CODE: ML00002-038 WWW.MARKETLINE.COM
MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
ML00002-038/Published 01/2012 Page 1
OVERVIEW
Catalyst
This profile analyzes the political, economic, social, technological, legal, and environmental (PESTLE) structure in Greece. Each of the PESTLE factors is explored in terms of four parameters: current strengths, current challenges, future prospects, and future risks.
Summary
Key findings EU membership provides the needed support to tide over the crisis, however, the sovereign debt crisis is a serious challenge EU membership has proved immensely beneficial for the country even as it struggles with a huge debt burden. Economically stronger EU members such as Germany and France have extended financial support to prevent Greece from defaulting on its debt obligations. Moreover, the economic and political prowess of the EU and the IMF has been leveraged to induce private investors to accept write-downs on loans to the government, thus reducing the government’s debt obligations by 50%. In addition, EU support prevents Greece from isolation in the international arena, which is vital given the current internal discord between the country's government and its public. However, the Greek polity has suffered a serious setback owing to the sovereign debt crisis. The Panhellenic Socialist Movement (PASOK) government was forced to dissolve and concede policy failure, and a new coalition government was put in place. As the debt situation worsened, PASOK – which came into power in 2009 – was crippled by internal discord and opposition from rival parties and the public at large; as a result, its efforts to tackle the crisis were largely piecemeal and unsuccessful. With the new coalition
Greece
In-depth PESTLE insights
PESTLE Country Analysis Report: Greece © MarketLine. This report is a licensed product and is not to be photocopied PUBLICATION DATE: January 2012
REFERENCE CODE: ML00002-038 WWW.MARKETLINE.COM
MARKETLINE. THIS PROFILE IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED
ML00002-038/Published 01/2012 Page 1
OVERVIEW
Catalyst
This profile analyzes the political, economic, social, technological, legal, and environmental (PESTLE) structure in Greece. Each of the PESTLE factors is explored in terms of four parameters: current strengths, current challenges, future prospects, and future risks.
Summary
Key findings EU membership provides the needed support to tide over the crisis, however, the sovereign debt crisis is a serious challenge EU membership has proved immensely beneficial for the country even as it struggles with a huge debt burden. Economically stronger EU members such as Germany and France have extended financial support to prevent Greece from defaulting on its debt obligations. Moreover, the economic and political prowess of the EU and the IMF has been leveraged to induce private investors to accept write-downs on loans to the government, thus reducing the government’s debt obligations by 50%. In addition, EU support prevents Greece from isolation in the international arena, which is vital given the current internal discord between the country's government and its public. However, the Greek polity has suffered a serious setback owing to the sovereign debt crisis. The Panhellenic Socialist Movement (PASOK) government was forced to dissolve and concede policy failure, and a new coalition government was put in place. As the debt situation worsened, PASOK – which came into power in 2009 – was crippled by internal discord and opposition from rival parties and the public at large; as a result, its efforts to tackle the crisis were largely piecemeal and unsuccessful. With the new coalition