An Introduction Of Greece 's Current Trade Practices

1763 Words Jul 15th, 2015 8 Pages
Part I: An Introduction to Greece
Modern Greece, like many other modern countries whose borders were once home to centuries of famous history, people, and culture, remains a (perhaps overly) romanticized nation. Much has changed since the times of Classical Greece in the fifth and fourth century B.C. Its unique history, geography, and people all play a vital role in the understanding of Greece’s position in the present Global Business Environment.
Foundational Information
As explained in the International Business, The Challenges of Globalization, trade was referenced as the oldest form of international business activity. Greece’s current trade practices are, in part, shaped by international trends and pressure, geographical setting, shifting demographics, and historical foundation. Following the time of the Byzantine Empire, the Greeks were ruled by the Ottoman Empire. In 1821 the people of Greece fought the Ottoman Empire for autonomy in the War of Independence, giving way to the nation of Greece in 1832. Touched by many wars and conflict, Greece became a member of the European Communities in 1981, which would later become the European Union. The CIA World Fact Book notes that in 2001 Greece joined the European Economic and Monetary Union.

By 2010 it was clear that Greece’s economy had many severe problems. The international debt crisis of 2009 was just beginning to uncover the urgency of debt relief, and the extent to which many European Union countries were…
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