JAI HIND COLLEGEBASANTSING INSTITUTE OF SCIENCE &J. T. LALVANI COLLEGE OF COMMERCE

23-24, Backbay Reclamation, “A” Road, Churchgate, Mumbai – 400 020

Bachelor of Management Studies

A Study on Analysing the International Macro-Business Environment with respect to

The Greek Economy

COMPILED BY:

BHAGYASHREE KAMBLI-18

YASH DUGAR-21

SHRADHA SHAHANI-30

MANNAT MAHTANI-31

ASHNI SHAH-49

NUPUR SONI-55

PRIYANKA YADAV-59

1

DECLARATION

We, Mannat, Ashni, Yash, Shradha, Nupur, Priyanka and Bhagyashree of

Jaihind College of T.Y.B.M.S. (Semester VI) hereby declare that we have

completed this project on“A Study on Analysing the International Macro-

Business Environment with respect to The Greek Economy” in the Academic

year 2013-2014. The information submitted is true and original to the best of

my knowledge.

Signature of the Students

2

CERTIFICATE

I, Dr. Arun S. Poojari hereby certify that Mannat, Ashni, Yash, Shradha,

Nupur, Priyanka and Bhagyashree of Jaihind College of T.Y.B.M.S. (Semester

VI) have completed the project on “A Study on Analysing the International

Macro-Business Environment with respect to The Greek Economy” in the

Academic year 2013-2014.The information submitted is true and original to the

best of our knowledge.

Signature of the Signature of the Principal

Project Coordinator of the College

3

AKNOWLEDGEMENTS

First and foremost, we would like to take this opportunity to thank Mumbai University for

having projects as a part of the BMS curriculum. Projects such as this really help in gaining

infinite knowledge, experience, confidence and the general know how in our day-to-day life.

Many people have influenced the shape and content of this project and many supported us

through it.

We would like to thank Dr. Mr. Arun Poojari, BMS visiting faculty of Jai Hind College for

being an inspiration in the completion of this project. We thank him for his invaluable help

provided during the project and for providing us guidance and numerous suggestions

throughout the entire duration of the project.

We also would like to thank our parents and other teachers who helped us with their valuable

insights during this project and made it possible for us to cover such a vast topic area with

such simplicity.

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INDEX

Sr. No Topic Page No.1. Introduction 6-9

2. Political Analysis 10-14

3. Economic Analysis 15-18

4. Social Analysis 19-23

5. Technological Analysis 24-27

6. Legal Analysis 28-31

7. Environmental Analysis 32-34

8. Conclusion 35-36

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Introduction

Greece, officially the Hellenic Republic and known since ancient times as Hellas, is a country

in Southern Europe. According to the 2011 census, Greece's population is around 11

million. Athens is the nation's capital and largest city. Greece is strategically located at the

crossroads of Europe, Western Asia, and Africa, and shares land borders with Albania to the

northwest, the Republic of Macedonia and Bulgaria to the north and Turkey to the northeast.

Modern Greece traces its roots to the civilization of Ancient Greece, which is considered the

cradle of all Western civilization. As such, it is the birthplace of democracy, Western

philosophy, the Olympic Games, Western literature and historiography, political science,

major scientific and mathematical principles, and Western drama, including

both tragedy and comedy. The cultural and technological achievements of Greece greatly

influenced the world, with many aspects of Greek civilization being imparted to

the East through Alexander the Great’s campaigns, and to the West through the Roman

Empire. Greece is a democratic, developed country with an advanced, high-income

economy, a high standard of living and a very high Human Development Index. Greece is a

founding member of the United Nations, a member of what is now the European Union since

1981 (and the EuroZone since 2001), and is also a member of numerous other international

institutions, including the Council of Europe, NATO, OECD, OSCE and the WTO. Greece's

economy is also the largest in the Balkans, where Greece is an important regional investor.

The economy of Greece is the 34th or 42nd largest in the world at $299 or $304 billion

by nominal gross domestic product or purchasing power parity (PPP) respectively, according

to World Bank statistics for the year 2011.  Additionally, Greece is the 15th largest economy

in the 27-member European Union. In terms of per capita income, Greece is

ranked 29th or 33rd in the world at $27,875 and $27,624 for nominal GDP and PPP

respectively. Greece is a developed country with high standards of living.  Its economy

mainly comprises the service sector (85.0%) and industry (12.0%), while agriculture makes

up 3.0% of the national economic output. Important Greek industries include tourism (with

14.9 million international tourists in 2009, it is ranked as the 7th most visited country in the

European Union and 16th in the world by the United Nations World Tourism Organization)

and merchant shipping (at 16.2% of the world's total capacity, the Greek merchant marine is

the largest in the world), while the country is also a considerable agricultural producer

(including fisheries) within the union.

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Major Demographic Characteristics

As of 2010, the population stands at 11.3 million people. Its projected population at 2025

would be 400 000 people more, at 11.7 million people. This means that the population is

increasing very slowly. By 2050, the projected population predicts that the population will

drop from 11.7 million to 11.5 million people. (PRB)

There are 11 births per 1000 people and 10 deaths per 1000 people. Therefore the natural

growth rate is at 0.1% a year. (PRB)

The fertility rate is at 1.5 children per woman, increasing since the 20th century. Still, it's

low. The ideal fertility rate would be 2.1 children per woman. The country carries a 33%

population dependency load. 14% of the population is under 15. 19% of it is above 65.

Greece has a high average lifespan of 80, 77 for males, and 5 years higher at 82 for females.

Its median age for males is 41.1 while for females, it is slightly higher at 43.2. (PRB)

Mortality for infants and children are low. There are six children per thousand births who die

before they reach the age of five. For infants, the number is five per thousand deaths. (US

Census Bureau)

There are four working age adults for every elder. This is low, and by 2050, there will only

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be two working age adults for every elder. Right now, the death rate and the birth rate is low,

putting Greece at Stage Four of demographic transition.

The Net Migration Rate is currently at 3 per a thousand people. (US Census Bureau)

Overall, Greece, in terms of population growth and decline, is at a very stable state. It isn’t

going up, or going down, and will not be in the coming years if they do not experience any

abnormalities.

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9

PESTLE Analysis

POLITICAL ANALYSIS

Type of State

Greece is a republic based on a parliamentary democracy. Greece (official name: Hellenic

Republic) was a monarchy until 1974. Greece is a Constitutional State. However, a certain

number of NGOs have communicated their concerns about immigrants and the members of

religious minorities in particular. Foreign nationals can, usually, expect a fair trial in legal

matters. There is a substantial level of corruption in the country, in particular among the

police and in the business sector – corruption in Greece is the most widespread among the

member countries of the European Union.

Executive Power

According to the Constitution, executive power is exercised by the President of the Republic

and the Government; after 1986, however, the role of the President in the executive branch is

ceremonial. The position of Prime Minister, Greece's head of government belongs to the

current leader of the political party that can obtain the confidence of a plurality in the

Parliament. The President of the Republic formally appoints the Prime Minister and, on his

recommendation, appoints and dismisses the other members of the Cabinet. The Prime

Minister exercises vast political power, and the amendment of 1986 further strengthened his

position to the detriment of the President of the Republic.

Legislative Power

Legislative power is exercised by a 300-member unicameral Parliament. Statutes passed by

the Parliament are promulgated by the President of the Republic. Parliamentary elections are

held every four years, but the President of the Republic is obliged to dissolve the Parliament

earlier on the proposal of the Cabinet, in view of dealing with a national issue of exceptional

importance. The President is also obliged to dissolve the Parliament earlier, if the opposition

manages to pass a motion of no confidence.

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Main Political Parties

New Democracy

The Panhellenic Socialist Movement (PASOK)

The Communist Party of Greeca (KKE)

The Coalition of the Radical Left (SYRIZA)

The Popular Orthodox Rally (LA.O.S.)

Current Political Leaders

President: Karolos Papoulias (since 2005) - PASOK

Prime Minister: Antonis SAMARAS (since 20 June 2012) - New Democracy

Government and Politics

Greece (Ελλάδα, Hellada or Hellas), officially the Hellenic Republic (Ελληνική Δημοκρατία,

Elliniki Dimokratia) is a Parliamentary Republic. The President, elected by Parliament every

five years, is Head of State. The Prime Minister is Head of Government. The Ministerial

Council, consisting of the Prime Minister, Ministers, Deputy Ministers and Ministers without

portfolio, is the collective decision-making body that constitutes the Government of Greece.

Legislative power is exercised by Parliament and the President of the Republic. Executive

power is exercised by the President of the Republic and the Government. Judicial power is

vested in the courts of law, whose decisions are executed in the name of the people.

Although the President of the Republic has limited political power, as most power lies with

the government, his duties include formally appointing the Prime Minister, on whose

recommendation he also appoints or dismisses other members of government, he represents

the State in its relations to other States, proclaims referendums etc.

General elections are normally held every four years unless the Parliament is dissolved

earlier. The electorate consists of all Greek citizens who are 18 years of age.

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The Constitution

The State is structured by the Constitution. The Constitution of Greece is the fundamental

Charter of the State. It has been voted by the Fifth Revisional Assembly and enforced in

1975. It was amended in 1986, in 2001 and in 2008 by the Greek Parliament. It includes the

main rules concerning the structure of the State, the exercise of its powers by the authorities

as well as a list of human rights.

The Hellenic Republic

The Third Republic (1974 – present)

The restoration of democracy in July 1974 signaled a turning point in Modern Greek political

history. When the military regime that had ruled the country since 1967 collapsed, a

transitional period began with the formation of a "national unity" government under

Konstantinos Karamanlis, who had played a prominent role as Prime Minister during the late

fifties and early sixties. Three major decisions were taken by the "national unity"

government: First, to organize free parliamentary elections for the election of a constitutional

assembly; second, to organize a referendum on the question of the monarchy, and third, to

legalize the Communist Party (KKE), which had previously been considered illegal since its

formation.

Greek Independence Day

It is celebrated on March 25th, a day marking the commencement of the Greek people’s

successful struggle against the Ottoman Empire (1821-1830), which culminated in the

establishment of an independent state. Along with its national connotation, it is traditionally

commemorated also as the religious day of Annunciation.

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State Symbols

About Greece - Government and Politics

The Flag

The National Flag of Greece consists of four white and five blue alternating horizontal

stripes, with a white cross on the upper left corner. Blue and white are the national colours of

Greece, as blue symbolizes the sky and seas and white denotes the purity of the Greek

independence struggle. The cross represents the Christian religion. The nine blue-and-white

horizontal stripes of the flag stand for the nine syllables of the Greek motto Eleftheria i

Thanatos (Greek for Freedom or Death).

The National Anthem

The Hymn to Liberty (or Hymn to Freedom) is a poem written by Dionysios Solomos (1823)

and consists of 158 stanzas. It was set to music by Nikolaos Mantzaros, (1865) and it is the

longest national anthem in the world by length of text. This anthem is being performed at

every closing ceremony of the Olympic Games, to pay tribute to Greece as the birthplace of

the ancient Olympics.

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The National Emblem

The national emblem of Greece, also known as the coat of arms of Greece, consists

of a blue crest with a white cross totally surrounded by two laurel branches. The first Greek

national emblem was provided for by the Constitution of Epidaurus of 1 January 1822.

The colours of the national emblem of the Hellenic Republic are blue and white. An

additional design with golden laurel leaves appears on the caps of the military officers of the

Hellenic Armed Forces as well as on the flag of the President of the Republic.

Conclusion

President: Karolos Papoulias (since 2005) – PASOK

Prime Minister: Antonis SAMARAS (since 20 June 2012) - New Democracy.

Greece is a republic based on a parliamentary democracy. Foreign nationals can, usually,

expect a fair trial in legal matters. There is a substantial level of corruption in the country, in

particular among the police and in the business sector – corruption in Greece .The role of the

President in the executive branch is ceremonial. The Prime Minister exercises vast political

power.

Legislative power is exercised by Parliament and the President of the Republic. Executive

power is exercised by the President of the Republic and the Government. Judicial power is

vested in the courts of law, whose decisions are executed in the name of the people. Greek

Independence Day is celebrated on March 25th.

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Economic analysis

Employment levels

Employment, on a seasonally adjusted basis increased very slowly from its trough of 3.6

million persons in February 2013 (Figure 1), only to fall again in October 2013. The ranks of

the unemployed increased by 84,128 individuals over the same period raising the seasonally

adjusted total of unemployed person to an all time high of 1,387,500 with a significantly

higher unemployment rate for women (31.3%in the third quarter of 2013) tha n that of men

(23.8%)

Impact of internal devaluation

In theory, a devaluation would help increase Greek domestic demand and enable an economic

recovery.

Imports would be more expensive causing demand for imports to fall – instead people

would buy more domestic goods.

Greek exports (and tourism) would become more competitive. Therefore, demand for

exports and tourism would rise. A substantial devaluation of 50-70% could create

many long-term opportunities to develop new export industries and encourage more

tourism.

This boost to domestic demand would also help create jobs and tackle Greece’s dire

unemployment.

Without devaluation, Greece could face years of depression as they are unable to

create any boost to domestic demand in the current situation.

The current policies of austerity have failed to  tackle the deficit, but have pushed the

economy into a very dangerous deflationary spiral with levels of unemployment

which threaten the social fabric of the country.

Large external liabilities ultimately require large trade surpluses in order to service them, and

achieving these surpluses requires a more depreciated level of the real exchange rate. In a

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currency union the depreciation has to be achieved largely through deflation, which

necessitates a larger negative output gap. This lead to a decrease in trade deficit from 45.8€

billion in 2008 to 16.9€ billion in November 2013

Austerity

In 2009, both the EU and the IMF came together inorder to issue a €110bn financial rescue

package for Greece, in turnmaking Greece the first ever Euro-zone member to be bailed out.

This rescue package, financed primarily by Germany was put forth in order to provide

financial support to a country that was teetering on the brink of  bankruptcy and political

support to a government that faced a mountainof economic problems.‟

However, this rescue package was filled with pre-conditions and pre-requisites; it required

Greece to further raise taxes,whilst deepening cuts in pensions and the public sector in order

to reducethe budget deficit. This is known as austerity.

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 has 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.

These austerity programmes have not been of much help to Greece and has not helped in

reviving the Greece economy.

Government deficit as percentage of GDP

All eurozone member countries are not allowed to have their deficit to be more than 3% of

their GDP. Greece yet has a deficit of 11.1%

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GREECE GDP

Greece trade

Exports $28.31 billion

Exports -

commodities

food and beverages, manufactured goods, petroleum products,

chemicals, textiles

Exports - partnersTurkey 10.8%, Italy 7.7%, Germany 6.4%, Bulgaria 5.6%, Cyprus 5%

(2012)

Imports $53.53 billion

Imports -

commoditiesmachinery, transport equipment, fuels, chemicals

Imports - partnersRussia 12.4%, France 7.5%, Italy 7.8%, Saudi Arabia 5.7%, Netherlands

4.7% (2012)

Conclusion

Representatives of the European Union and International Monetary Fund, who oversee the

Greek government's compliance with the bailout terms, said progress had been made in some

areas but the economic outlook remains "uncertain."

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Greece's economy, in free fall for the past five years, has "prospects" of returning to growth

in 2014, albeit at a meager rate of 0.6%, the so-called troika of experts said in their statement.

There is a long way to go for Greece to revive its economy completely.

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SOCIAL ANALYSIS

Contemporary Greek culture and traditions are very rich and diverse, reflecting Greece’s

location at the crossing point where the West meets the East and the country’s great and

turbulent history.

The culture of Greece has evolved over thousands of years - dating from the Paleolithic era

reaching great levels of prosperity that resulted in an unprecedented cultural boom, expressed

in architecture, drama, science and philosophy, and nurtured in Athens under a democratic

environment, through the sequence of invasions and domination: by the Macedonians, the

Romans, the Byzantine Empire and the 400 years of Ottoman rule.

This rich and tumultuous past greatly influences contemporary lifestyle, the Greek

perspective on the world, Greek music, food, customs and traditions, even the way Greeks

do business. Greeks as a whole are extremely proud of their history, their cultural heritage

and their contribution to literature, art, philosophy and politics. They speak with intense

passion of their country as the cradle of European civilization.

A recent study found that Greeks' pride in being Greek surpassed the ethnic satisfaction of

every other European nation. Greeks define their natural and ethnic belonging through their

culture and tradition.

Religions

 Greek Orthodox – 98%, Muslims – 1.3 % and Others- 0.7 %.The Greek Orthodox Church is

the national religion and is practiced by the majority of the population. Religion is integral to

life in Greece and is evidenced in the respect for hierarchy and view of the family as a single

unit of strength. Most holidays and festivals are religious in nature. Younger people are not as

devout church-goers as their parents and grandparents, yet most will still turn to the church to

observe such important rituals such as weddings and funerals. Easter is the major religious

holiday and the celebration is more important to most Greeks than Christmas. The Church

plays a greater role in political, civic, and governmental affairs than in more secular countries

The Greek Language

98% of the 10.6m population of Greece speak Greek, which is the country's official language.

The largest minority language is Macedonian, spoken by 1.8% of the population. Others

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include Albanian, spoken in the centre and the south, Turkish, spoken by Muslim

communities around the Aegean, and Arumanian and Bulgarian.

The Greek Orthodox Church

The Greek Orthodox Church is an integral part of life in Greece where the most important

holidays are religious in nature and the national religion is practiced by the majority of the

population. Greece and Orthodoxy are closely connected due to the country’s historical past.

During several occupations, and especially during the 400 years of Ottoman rule, the

Orthodox religion played a vital role in maintaining the Greek ethnic and cultural identity.

Today the Church is more important in political, civic, and governmental affairs than in many

other secular countries.

Officially, and like all over Europe, the Greek State and the Orthodox Church are separated,

but this separation is not written or regulated by the Constitution and the Greek Orthodox

Church has a great influence in Greek society. Religion is present in the education sector,

both in private and public schools, where children have compulsory religious courses and

pray collectively in the morning before the start of classes. The Orthodox Church is also

much integrated into the politic matters of the country.

Even the Greek Constitution guarantees freedom of faith, but defines the "prevailing religion"

of Greece as the Eastern Orthodox Church of Christ. Most Greeks, whether deeply religious

or not, revere and respect the Orthodox Christian faith, attend church, observe major religious

holiday and are emotionally attached to Orthodox Christianity as their "national" religion.

Younger people are not as devout church-goers as their parents and grandparents, yet most

will still turn to the church for holidays or for important rituals such as weddings and

funerals.

The Greek Family

The Greek society consists of close-knit families where important social organizations have

gradually evolved from the idea of family. Although family life has changed considerably

with the transition from the traditional rural-agricultural life into an urban industrial-modern

system, to these days women and particularly mothers in Greece play the most important

family roles. The man is the family's outside representative, enjoying social prestige and

esteem, but the woman is the organizer of the household, the mediator in family disputes, and

the guardian of the family's unity. The family's prestige often rests on the woman's ability to

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carry out her household duties properly. It is very common for relatives to work for the same

company because Greeks prefer to do business with those they know and trust. Companies

are also hierarchical over the traditional respect for age and position. The family offers

emotional and financial support to its members. The extended family is expected to help the

family in times of need. Family relationships carry into business

Greek Food and Drinks

Greek food and beverages are famous all over the world for both quality and taste. Greek

cuisine is often cited as an example of the healthy Mediterranean diet while sharing food and

drinks with relatives and friends is one of the basic elements of the Greek culture. Greek

cuisine incorporates fresh ingredients, among them garlic, onions, fennel, zucchini, grapes,

apples, dates and figs, into a variety of local dishes some of which can be traced back to

Ancient Greece.

General Etiquette & Customs in Greece

Meeting Etiquette

 Greeks are warm and hospitable. When meeting someone for the first time, they shake hands

firmly, smile, and maintain direct eye contact. Good friends often embrace; they may also

kiss each other on each cheek. Male friends often slap each other's arm at the shoulder.

In general, Greeks exchange gifts with family and friends for 'namedays' (birth date of the

saint after whom they are named) and Christmas. Some Greeks celebrate birthdays, but in

general, celebrating namedays is more likely. When invited to dinner at a Greek home, bring

something small

Relationships and Communication

Relationships are the linchpin of business dealings since Greeks prefer to do business with

those they know and trust. They maintain an intricate web of family and friends to call upon

for business assistance since they can be confident of their trustworthiness.  Nepotism is not

viewed negatively and it is very common for relatives to work for the same company. Greeks

prefer face-to-face meetings rather than doing business by telephone or in writing, which are

seen as too impersonal.  It takes time to develop relationships: this can be done in the office,

over extended lunches, dinners, and social outings.  Never say or do anything that can be

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construed as challenging the honour or integrity of a business colleague. Under no

circumstances should you publicly question someone's statements. Greeks do not like people

who are pretentious or standoffish.  Although business is relaxed, it is also serious. Acting

informal before a relationship has developed is considered discourteous. If your Greek

business colleagues become quiet and withdrawn, you may have said or done something to

upset them.

Celebrations, Customs and Traditions

Most customs and traditions in Greece and the Greek Islands are of a religious nature, but

some stem from paganism.

Easter

Easter is by far the most important celebration for the Greeks, even Christmas comes second.

The celebrations for Easter truly begin two months before, but Holy Week is the peak of

these activities. According to the Orthodox tradition, the symbolic red Easter eggs are dyed

on Holy Thursday. Greeks believe that the Virgin Mother, Mary, dyed eggs this color (the

color of blood) to celebrate the Resurrection of Christ and life. On Holy Thursday women are

also busy baking kouloúria - dough cookies and tsouréki – the traditional Easter sweet bread.

Godparents buy news shoes, clothes and a candle to the kids and, in villages, the exterior of

the houses and the streets are whitewashed. On Good Friday or Great Friday, flags at homes

and government buildings are set at half mast to mark the sorrowful day. The Procession of

the Epitáphios of Christ, the Epitaphio mourns the death of Christ on the Cross with the

symbolic coffin, decorated with thousands of flowers, taken out of the church and carried

through the streets by the faithful..

Name Day Celebration

Most of the Greeks owe their names to a religious saint and in Greece name days are more

important than birthdays. Everyone named after a saint honored by the church celebrates his

name on a given day of the year. When someone has a “name day” his friends and family

visit him without invitation and offer good wishes and small presents. The host greets the

guests with pastries, sweets and appetizers.

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Baptism

Baptismal day is one of the most important days in the life of a Greek Orthodox. It usually

takes place the first year after the baby is born. Until the baby is baptized it is often called

baby and doesn’t have a name.

On Baptism Day, the baby is undressed and wrapped in a white towel. The priest blesses the

water and adds olive oil brought by the godparents. He then immerses the baby three times,

saying the chosen name. (Children in Greece are traditionally named after their grandmother

or the grandfather.) The priest also blesses the baby and the baby clothes with “myrrh” (olive

oil blessed by the Patriarch). The child is then dressed in white clothes. The priest puts a gold

chain with a cross on his or her neck and gives the baby its first Holy Communion.

At the end of the ceremony, the parents kiss the godparent’s hands and receive guests’

wishes: “na sas zisei” (Long Life to Your Baby).

The ceremony is followed by a celebration at the family’s house or a restaurant.

Carnival

Another big Greek celebration is “Apokries” or Carnival. The Carnival is two weeks long,

beginning from the Sunday of Meat Fare and ending with the start of Lent, (Clean Monday).

People wear carnival costumes and party in the streets and bars, throwing colored confetti to

each other. The most famous Carnival parade takes place in the city of Patra. It is believed

that this custom has pagan roots, and originates from the old festivities worshiping Dionysus,

the God of Wine.

Conclusion

Greece is the most homogeneous country in Europe and one of the most homogeneous

countries in the world, with an almost 97% majority of citizens sharing the same national

identity, religion (Greek Orthodox Christians), language and race. This means that there are

no great social and political disturbances (especially since the restoration of democracy in

1974) or other similar problems. Greek society is very coherent and the Greek family, a basic

social institution, seems strong enough to support its member’s even at the most difficult

times. As a result, the high rate of unemployment does not spawn problems like homelessness

or a high criminality rate

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TECHNOLOGICAL ANALYSIS

The present Greece -Technology is definitely based on the inventions and discoveries made

by the old scientists and scholars. Since the foundation of the academy of Athens, a lot has

been done in the field of science and technology in Athens. The subjects on applied

mathematics, atmospheric physics and climatology have been given stress. Besides the

academy of Athens, Greece has five big scientific research institutes. Association of Greek

Chemists and Greek Mathematical Society in Athens are the two main specialized scientific

research institutes. Nine colleges offer advanced scientific and technical tanning. The

Ministry of research and Technology in Greece was established by the Greece government in

1980. The government also spends huge amount on the development of science and

technology. 

In recent decades Greece has made significant improvements in research and technological

development. The country draws on several research policy implementation programmes and

institutions in its progress towards a knowledge-based economy.

Support for research, technology and innovation is based on the National Strategic

Development Plan 2007–2013 (NSDP). The Plan includes 11 thematic priorities, of which

energy is one. Energy R&D funding and the thematic priorities are analogous to those of the

EU’s 7th Framework Programme on Research, Technological Development and

Demonstration (FP7) for 2007–2013.

The thematic priority on energy includes the use of renewable energy sources for electricity,

fuels, heating and cooling; hydrogen and fuel cells; clean coal technologies; smart energy

networks; and energy efficiency and conservation.

ORGANISATIONS OF RESEARCH IN GREECE:

The General Secretariat for Research and Technology (GSRT), which after the election in

June 2012 moved back to the Ministry of Development, Competitiveness, Infrastructures,

Transport and Networks, is the main authority responsible for developing and implementing

R&D in Greece. It supports the R&D activities of public research centers and universities as

well as private-sector R&D that is covered by national programmes.

It is responsible for supervising 12 of the 18 public research centers in Greece. GSRT is also

tasked with establishing new institutions and technology centers for research in areas of high

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priority for the Greek economy, and supporting the dissemination of R&D information

throughout the country and internationally. GSRT also manages regional R&D activities.

Another advisory body on R&D policy is the National Council for Research and Technology

(NCRT), which comprises distinguished scientists from Greece and abroad. Supporting the

NCRT are seven sectoral research councils, one of which focuses specifically on energy and

the environment

Greece has two main public research centers whose job is to identify specific energy R&D

policy priorities and implement energy R&D: the Centre for Renewable Energy Sources

(CRES) and the Centre for Research and Technology Hellas (CERTH).The Energy

Conservation Group (GREC) is an entity within the Institute for Environmental Research and

Sustainable Development (IERSD) that specializes in energy efficiency issues, particularly in

buildings.

Finally, at the Solar and Other Energy Systems Laboratory (SESL) of the Demokritos

National Centre for Scientific Research, R&D emphasis is on solar collectors and systems;

analysis and design of thermal storage systems; solar cooling; thermal distillation and

desalination; mechanical/solar-assisted drying processes and systems; metrology of energy

quantities; and computational fluid dynamics and heat transfer.

At the regional level, the Regional General Secretariats have some freedom to shape priorities

for R&D policy within the general national policy framework. They can use funding from the

EU Structural Funds to carry out projects.

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BUDGETS

The country’s 22 universities are the main research performers, accounting for around half of

all R&D spending in Greece. Together, universities and public research centers are

responsible for around 70 % of total spending on all R&D (not only on energy), while the

private sector’s share, at around 30 %, is one of the lowest among the IEA member countries.

A good 20 % of total public funding comes from the European Union through the

Community Support Framework (CSF).

According to the government, in the current programming period 2007–2013, 75 % of the

budget for the entire set of R&D measures will have been financed by the EU Structural

Funds.

NATIONAL GOVERNMENT DEPARTMENTS:

Ministry of Environment, Energy and Climate Change

The Ministry of Environment, Energy and Climate Change has been established to confront

continuing environmental problems and to adopt a new Green Development model that will

secure a better quality of life for every citizen. The Ministry works to protect the natural

environment and resources, improve the quality of life, mitigate and adjust to the implications

of climate change, and improve mechanisms and institutions for environmental governance.

Centre for Research and Technology (CERTH)

CERTH includes two institutions active in energy: the Chemical Process Engineering

Research Institute (CPERI), which conducts R&D and innovation activities in the fields of

science related to energy conversion and the Institute for Solid Fuels Technology and

Applications (ISFTA). The latter is the main Greek organization promoting R&D in solid

fuels and their by-products.

Institute of Environmental Research and Sustainable Development (IERSD)

The Institute of Environmental Research and Sustainable Development (IERSD) is one of the

five institutes that constitute the National Observatory of Athens (NOA), the oldest research

centre in Greece. The IERSD’s aim is to promote environmental science and engineering. It

is particularly active in solar and wind energy, energy planning and energy conservation.

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FUNDING ORGANISATIONS AT NATIONAL LEVEL

The Greek research and technology system is centralized and dominated by the public sector

in terms of both funding and execution. The GRST directly funds institutions and projects.

Other units of the Ministry of Education and Religious Affairs, Culture and Sports provide

funding only for academic research.

Conclusion

Over the last decade, Greece has made significant improvements in research and

technological development. Today, Greece is in a “catching up” phase, compared with the

other EU Member States, with strong overall trends in improving research and innovation.

The gross expenditure in R&D has been rising steadily from 0,20% of GDP in the early

1980s to 0,68% in 1999 and has experienced the highest annual growth rate in the EU since

1995. Greece is entering the research and technology area dynamically, aiming for a better

quality of life for its citizens and a most-promising future.

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LEGAL ANALYSIS

INTRODUCTION

The Greek legal system is a member of the family of European laws and is especially

influenced by German and French law. For the most part, Greek law is codified and, unlike

Anglo-American common law, only enacted laws either in the form of codes or other statutes

are the sources of law in addition to custom and international law. The importance of custom,

however, is minimal and it is used only in accordance with enacted.

As a practical matter, legislation is the most important source of law. Although judicial

decisions and the works of legal scholars are not considered sources of law, they can be very

influential. The role of the courts is to interpret legislation. This is best seen in cases where

general concepts or clauses in a statute are applied to a particular case. Greek courts do not

possess a law-making capacity as such. Courts, therefore, are not formally bound by judicial

precedent. Nevertheless, courts only seldom depart from prior established practice reflected

by a series of decisions. Established practice in decisions of the higher courts and especially

those of the “Areios Pagos” (the Supreme Civil and Criminal Court) play an important role in

the decision-making process of the lower courts. In a similar manner, the works of legal

scholars have the potential of influencing both the legislators in enacting the law and the

courts in interpreting it.

THE RULE OF LAW

The rule of law (kratos dikaiou) is at the very basis of the Greek legal system and the

organization of the Greek state.

The Greek Constitution guar- antees the principle of separation of powers. However, the

principle is combined with the notion of leg- islative supremacy. In fact only the judiciary is

genuinely separat- ed from the other state powers. Yet the independence of the judiciary is

mitigated by the power of the Government to assign the chief judges of the three supreme

courts.

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PUBLIC AND PRIVATE LAW

The distinction between public and private law is a fundamental feature of the Greek legal

system. Public and private law regulate relations of a different kind and govern the behavior

of persons or entities of a dissimilar nature.

Public law governs the structure and operation of both the central and local government and

the operation of public administration. It also defines the relations between the state and its

citizens and the limits of state power.

Private law (idiotikon dikaion) legislation has been codified or gathered in a systematic order

of rules governing exhaustively and exclusively specific areas of law. Traditionally, private

law is divided into two branches, civil and commercial law.

HUMAN RIGHTS

The Constitution provides extensive protection of human rights (anthropina dikaiomata) the

fundamental individual, social and political rights and freedom. The Constitution has

embodied the notion of the social function of human rights which translates to relative

restraints. The theory is that society at large needs to benefit and advance. That does not

mean, however, that the Constitution subordinates the individual to the state or the

community. The balance is struck between the interests of the individual and the general

interests of society without compromising the hard core of human rights. The restraints on

human rights that are particularly noticeable are in areas concerning economic freedom and

they are within the typical bounds of jurisdictions with market economies.

ADMINISTRATIVE LAW

Administrative law (dioikitiko dikaion) is the part of public law that governs the organization

and function of public administration. Public administration is headed by the president of the

republic and the government (the prime minister and the ministers). The basic characteristic

of Greek administrative law is that it has developed recently and it is not codified. The

Constitution sets the general guidelines regarding the organization of the central and local

government and statutes provide for the specifics.

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EUROPEAN UNION LAW

Greece became the tenth member of the then European Economic Communities, now called

the European Union or EU, on January 1, 1981. Greek law has been greatly influenced by EU

law (Europaikon dikaion). Both the rules provided for by the Treaty of Rome establishing the

EU and the regulations of the Council play an important role in Greek law, either becoming

an integral part of the Greek legal system or influencing it towards the goal of harmonization

of the law of all member states.

THE PROTECTION OF THE ENVIRONMENT

The Constitution contains important provisions for the protection of the environment. The

protection of the environment is duty of the state, which is bound to adopt special preventive

or repressive measures for environmental preservation. Art. 24 of the Constitution pro- vides

for urban planning as well as for the protection of forests.

SOCIAL JUSTICE

The Constitution guarantees social rights. The development and pro- motion of arts and

sciences, re- search and teaching are obligations of the state. The Constitution protects

family, motherhood, child- hood, youth, and poor members of society. According to the

Constitution, education is a basic mission of the state and all Greeks are en- titled to free

education, on all levels, at state educational institutions. Education at the university level is

provided exclusively by fully self-governed legal persons of public law. The establishment of

private universities is constitutionally prohibited in Greece.

The Constitution proclaims the right to work. All working people are entitled to equal pay for

work of equal value, irrespective of sex or other distinctions. Trade union freedom enjoys

constitutional protection. The right to strike is con- stitutionally protected if exercised by

lawfully established trade unions, for the promotion of the financial and general labour

interests of the working people.

The Constitution also provides for social security, which is recognised as a social right for

working people. Care for the health of the citizens is a goal of the state. Greece has a national

health system, established during the 1980s.

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COURT STRUCTURE AND THE LEGAL PROFESSION

The right of access to the courts is constitutionally guaranteed. According to art. 20 par. 1 of

the Constitution, every person is entitled to legal protection by the courts and may plead

before them his views concerning his rights and interests “as specified by law”.

Greece has three levels of courts: Civil and criminal courts have jurisdiction over civil and

criminal matters, where the same judges sit and judge either category of cases; and

administrative courts have jurisdiction over administrative controversies. There are also

special courts.

CONCLUSION

The ancient Greek world had no single system of law; individual states instead formed their

own political and legal systems, although these were arguably based largely on the same

general principles.  Resources for ancient Greek law are plentiful with primary sources able

to provide in depth information. 

The most widely-known Greek judicial system is that of 4 th century classical Athens,

traditionally associated with the birth of democracy.  It was primarily the abstract

philosophical ideas surrounding law and justice that had the greatest impact on later

societies, not the practical aspects of the legal system itself. Today, Greece has a constitution

which lays down all of its laws, rules and regulations.

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ENVIRONMENTAL ANALYSIS

Air quality

Almost every activity in our daily life results with some sort of air pollution – all types of

transport and production result in CO2 and other GHG emissions. The pollution on urban

areas is even more and covers the whole city areas, as in some megapolis levels of dust and

different gases in the air reaches levels at which it gets highly toxic and harmful for human

and environmental health. Human activity has significant impact on the air quality especially

in areas where the population density is considerably high. A major amount of pollution is

caused by vehicles.

The concentration of PM10 (solid particles in the air of 10 millimeters) is distinctive for air

pollution in big cities, and if higher it represents a real threat for human and environmental

health. Thus, there is annual standard in the EU for the average concentration of PM10 –

40μg/m3. The average concentration of PM10 in Greece in 2001 is 75.5μg/m3, which is

much higher than the accepted value and imposes serious risk for citizen’s health. Another air

quality measurement is the CO2 emissions (in metric tons) per capita. As one of the most

emitted greenhouse gases, the CO2 is also a “product” of almost every human activity and its

concentrations play crucial role for the climate change and global warming. Thus EU has

strict regulations on the CO2 emissions that each member state is allowed to emit. The

amounts in the country for 2007 are 8.8 metric tons per capita, whilst in Greece it is slightly

higher – 10.441. The reason of this difference is the high population density and intensive

traffic in the city, combined with other types of consumption and production.

Transport

The transport is of of the biggest emitters of GHG. However, there are different types of

transport and not all of them are unsustainable. In the SUME Working Paper 1.2 the public

transport in Greece is described as very efficient (in 2001) with a metro network and rapid

connection to the airport. However, the passenger loads on the different types of transport

experience a significant increase (up to 53.8%). This requires further improvement of the

public transport network in order to answer the challenge of population densification in some

parts of the city.

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Efficient public transport is important part of sustainable urban development strategy, but

personal vehicles that are used every day by citizens represent the real challenge for the

environment. The number of registered vehicles in Greece for 2009 is 663.5 per 1000

inhabitants, which is considerably higher than the country records – 455.843. These records

combined with the high amount of people and density in Greece represents serious challenge

for the sustainable development in the region. Thus, the suggested strategy for improvements

in the public transport network is important decision for lightening the traffic in the area and

increasing the air quality.

Waste

Waste represents a great challenge for urban environment not only from ecological point of

view, but also from planning and organization stand.

The waste management is important part in city development especially in areas with high

population. In cities’ large amount of waste is generated every day and needs to be processed

in the most sustainable way. In Greece two types of solid waste processing are applied –

landfill accumulation 90% and recycling 10%. The total amount of solid waste collected in

the same period is 0.4 tons per inhabitant44. This indicates weak waste management system;

the landfill accumulation creates numerous environmental and human health hazards and is

strongly undesirable for sustainable development

Energy efficiency

Energy is the basic resource of all economic activities and its use accounts for most types of

environmental pollution. Energy is a specific asset – it cannot be created or destroyed, it can

only be transformed, that determines the complexity of the ecological problems it causes if

not managed properly.

The European Environment Agency keeps records on the energy efficiency in EU and some

parts of the world. Throughout the period 1990 – 2008 the energy consumption change (in

terms of household final consumption) in Greece is positive by 52%, this means that the total

consumption for the period has increased. This result is rather high compared to EU27 result

for the same period: 6.6%. In the household final electricity consumption the trend seems

similar with 80% total increase for the period compare to EU consumption of 32%45. In

terms of renewable energy use Greece scores 7.9% out of total consumption for 2009, to

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compare, the national target for 2020 is 18%. To summarize in both criteria energy efficiency

and renewable energy use (as part of the solution towards energy efficiency) Greece needs

better results in order to reach the common European targets for sustainability in energy and

to advance in sustainable urban development.

Conclusion

On studying the environmental factors of Greece it was found that:

The average concentration of PM10( Pollutant) in Greece in 2001 is 75.5μg/m3,

which is much higher than the accepted value and imposes serious risk for citizen’s

health.

The number of registered vehicles in Greece for 2009 is 663.5 per 1000 inhabitants,

which is considerably higher than the country records – 455.843. These records

combined with the high amount of people and density in Greece represents serious

challenge for the sustainable development in the region.

The total amount of solid waste collected in the same period is 0.4 tons per

inhabitant44. This indicates weak waste management system; the landfill

accumulation creates numerous environmental and human health hazards and is

strongly undesirable for sustainable urban development.

Throughout the period 1990 – 2008 the energy consumption change (in terms of

household final consumption) in Greece is positive by 52%, this means that the total

consumption for the period has increased. This result is rather high compared to EU27

result for the same period: 6.6%.

Thus, Greece has to take several strict measures to reduce pollution and improve its waste

management system. Greece needs better results in order to reach the common European

targets for sustainability in energy and to advance in sustainable urban development. It also

need to make strategies for cutting carbon emissions and implement it religiously.

Final Conclusion:

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The historical and cultural heritage of Greece continues to resonate throughout the

modern Western world - in its literature, art, philosophy and politics.

Post-World War II Greece saw rapid economic and social change, with tourism and

shipping becoming major contributors to the economy.

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.

In 2010, amid fears of an imminent default on debt payments and of the debt

contagion spreading to other countries, Greece's fellow eurozone countries agreed an

unprecedented 110bn euro package to rescue its teetering economy.

The following year, an even bigger bailout of 130bn euros was required to stave off

the imminent danger of Greece defaulting on its debts. However, these two bailouts

combined - amounting to a total of 240bn euros - were not sufficient to plug the hole

in the country's finances, and by 2013 it was clear that a further 10bn euros would be

needed to cover the funding gap.

Greece's economy shrank by 23% between 2008 and 2013, and international lenders

predict that it will continue to diminish in the immediate term.

At the prompting of the European Commission, European Central Bank and

International Monetary Fund, Greece has been striving to reduce its debt burden from

160% of GDP to a target figure of 120%. It has also embarked on recapitalizing its

banks so as to put them on a sounder footing.

The main conditions attached to the various rescue packages Greece has received -

drastic cuts in public spending, which have led to record unemployment levels - have

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prompted recurrent social unrest.

The protracted economic uncertainty has been accompanied by a rise in support for

the virulently anti-immigration Golden Dawn party - which entered parliament for the

first time in 2012 - and human rights groups have expressed concern at the increased

incidence of violence against ethnic minorities

International relation s :

Greece has long been at odds with its close neighbour, Turkey, over territorial

disputes in the Aegean and the divided island of Cyprus.Relations warmed after both

countries suffered earthquakes in 1999 and offered each other practical help.

Although the disputes remain unresolved, the Greek government gives strong backing

to Turkey's EU bid. It sees dividends to be gained from the increased regional stability

that it believes membership would bring.

Greece has been in dispute since the early 1990s with the Former Yugoslav Republic

of Macedonia. Greece contends that the use of the name Macedonia by the

neighbouring country implies a territorial claim over Greece's own region of the same

name. The UN is involved in continuing mediation efforts.

Athens stepped into the global spotlight when the Olympic Games returned home in

2004. The games were hailed as a success, despite widely publicized fears that the

infrastructure would not be complete in time.

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