Boston, MA -- (SBWIRE) -- 02/22/2013 -- Espicom’s in-depth medical device market reports are ideal for executives wanting to understand the key drivers in medical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data and essential industry contacts. Included with the report are 3 free quarterly updated outlook reports, enabling you to keep up to date with market developments for a year.
Greece is one of the least affluent members of the European Union. GDP is US$269.5 billion in 2012, with a 5.7% fall predicted this year. The economy is not expected to move out of recession until 2014. Greece’s budget deficit in 2009 was 12.7%, four times the EU limit.

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In November 2011, an interim government was appointed, led by Lucas Papademos, a former economist and former vice–president of the European Central Bank. The EU approved in principal the next tranche of the loan at the end of November 2011. The IMF cut growth forecasts in December 2011 fearing a default on the loan.

A 110 billion euro (US$142.6 billion) EU bailout plan for Greece funded by the EU and IMF, running to 2014, was ratified in May 2010. Austerity measures were agreed in December 2010, June 2011, and December 2011. The 2010 cuts included the government trimming 5 billion euros off the deficit by increasing taxes and reducing health and defence spending.

In January 2012, it was announced that unless Greece receives the second 130 billion euro bailout from its international lenders, it will be forced to exit the European Union common currency block. Last minute crisis talks were being held to secure the second loan in the final week of January 2012.

Imports supply approximately 93% of the domestic market. In 2009, total imports of medical devices amounted to US$1,357.3 million. In 2009, imports and exports fell by 9%. In the 12 months to June 2011, imports fell a further 34.9%.and exports fell 2.8% in US dollar terms.

China, keen to gain a foothold in Europe and a gateway to the Balkan peninsular, announced 14 euro trade deals worth billions of euros, and its support for Greece in June 2010.

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