Greece, Ireland and Portugal

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Greece, Ireland and Portugal

• By Neil Olsen

Ireland
Portugal
Greece
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Greece

• Athens is the capital of Greece
• Greece has a total area of 131,940 square
  kilometers or 50,949 square miles.

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Ireland

• Dublin is the capital of Ireland
• Ireland has a total area of 70,280 square
  kilometers or 27,097 square miles.

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Portugal

• Lisbon is the capital of Portugal
• Portugal has a total area of 92,391 square
  kilometers or 35,655 square miles.

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Greece
Ireland
Portugal
Population Population Density Population
Growth Rate Net Migration Rate Life
Expectancy Ethnic Groups
10,668,354 about 10.7 million 0.19 2.34
migrants per 1000 people Men 76 Women
81 Total 79.09 years 98 Greek and 2 other
4,015,676 about 4 million
10,566,212 about 10.5 million
209.39 people/mile2
148.2 people/mile2
296.35 people/mile2 0.39 3.49 migrants per 1000
people Men 73 Women 80 Total 77.53
years Homogeneous Mediterranean
1.16 4.93 migrants per 1000 people
Men 74 Women 80 Total 77.56 years
Celtic and English
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Greece
Ireland
Portugal
GDP GDP per capita GDP growth rate GDP
composition by sectors Inflation
rate Unemployment Rate
188.7 billion 17,900 1.1 63.9
services 30.2 industry 5.9 agriculture
126.4 billion 31,900 5.1 49 services 46
industry 5 agriculture
226.4 billion 21,300 3.7 71 services 22
industry 7 agriculture
2.2 4.3
2.9 10
2.1 6.5
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Greece
Ireland
Portugal
Government budget -revenue -expenditure -balance
Outstanding public debt Current account
balance
54.39 billion 64.4 billion - 10.01
billion 112 of GDP or 253.568 billion - 8
billion
62.51 billion 63.52 billion - 1.01
billion 31.2 of GDP or 39.44 billion - 2.881
billion
74.38 billion 79.86 billion - 5.48
billion 61.5 of GDP or 116.05 billion - 8.12
billion
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European Monetary Union

• Portugal joined the EMU in 1999
• It has no plans to drop out of the EMU in the
  near future, because it has had a net benefit
  from joining.

• Greece joined the EMU in 2001
• It has no plans to drop out or abandon the EMU
  in the near future, because it benefits greatly
  from it.

• Ireland joined the EMU in 1999
• Irelands economy has been growing and is now
  facing inflation due to high GDP growth rates,
  but they have no plans to drop out of the EMU in
  the near future.

• The euro is the accepted form of currency in all
  three of these countries

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Fiscal Policy

• As of February 2005, Greece has made payments of
  180 million euros and received 1.566 billion
  euros from the European Union.
• From 2000-2006 Greece is expected to receive a
  total of 8 billion euros from the EU
• In 2003, Ireland received total funds of 2.6908
  billion euros and has contributed 1.1275 billion
  euros.
• In 1993, Portugal received total funds equivalent
  to 837 million from the EC.

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Common Agriculture and Fisheries Policies

• Greece produces wheat, corn, barley, sugar beets,
  olives, tomatoes, wine, tobacco, potatoes beef,
  dairy products and receives large subsidies from
  the EU.
• Greece is not very big in fish production.
• Ireland produces turnips, barley, potatoes, sugar
  beets, wheat beef, dairy products and receives
  fairly big subsidies from the EU as well.
• It is big in the production of salmon and trout,
  but its cod stocks are still recovering.
• Portugal produces grain, potatoes, olives,
  grapes sheep, cattle, goats, poultry, beef,
  dairy products and also receives fairly big
  subsidies from the EU.
• Despite its convenient location, Portugal is not
  very big in fish production.

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Unemployment

• The Prime Minister of Greece attributed the
  unemployment problem in Greece to increased
  competition as well as the fact that the new
  technologies were altering the production,
  organization and commerce conditions. Greece
  isnt dealing with unemployment now because they
  are in a period of economic growth. Greece has
  some immigration, from those seeking political
  asylum and is thinking about restricting
  immigration.
• The Irish government runs a welfare state in
  which education and healthcare are free to those
  who are unemployed .
• Those who are unemployed receive unemployment
  benefits in the form of a small sum of money and
  there is a state pension for those who are
  retired. Ireland has rather high immigration,
  because it has a pretty good welfare system and
  is thinking about developing restrictions.

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Unemployment contd

• Portugal has benefits of about 65 of earnings
  for those who are unemployed and has small
  benefits for those who are retired or sick. They
  also have free healthcare. Lisbon and Porto have
  moderate immigration, but nothing is being done
  to restrict immigration.

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External Relations

• Greece has trade ties to the US and many of the
  countries in the EU, which makes up 61 of their
  imports and 56 of their exports
• Ireland has trade ties to the US as well, and the
  EU makes up a big portion of their trade as well.
• Portugal has trade ties to the US and Japan and
  the EU makes up 74.2 of imports and 79.7 of
  exports.
• All of their political ties lie within the EU and
  their respective national governments.