Building New Wealth on a Current Crisis

Updated news about Euro Zone – inflation 3%, unemployment 10.2%, business investment 20.9%, household saving 13.9%, 10 to 20 pupils per teacher in primary education in 2009, and industrial orders up by 1.9% - are most remarkable and understanding indexes. In comparison of GDP per capita in purchasing power PPS, used EU27 as a standard of 100. The changes are recorded from 2000 2010.

Country	2000	2001	2002	2003	2006	2007	2008	2009	2010
EU27	100	100	100	100	100	100	100	100	100
EU25	105	105	105	104	104	104	103	103	103
EU15	115	115	114	114	112	111	111	110	110
Belgium	126	124	125	118	118	116	115	117	119
Germany	118	116	115	115	115	116	115	115	117
U.S.A	161	156	154	154	154	151	146	145	149
Japan	117	114	112	110	110	109	105	103	107

(Source: http://epp.eurostat.ec.europa.eu Nov, 2011)

The projection of GDP growth rate is also recorded in Euro Zone, U.S. and Japan. Most of Eastern Euro Zone has a higher GDP growth rate compared to Western Euro Zone – Turkey 5.5%, Estonia 4%, Belgium 2.2%, Germany 1.9%, U.S.A. 2.7%, and Japan 1.6% in 2012. The forecast of the 2011 population in Europe will be 502,519,978 people compared to 501,125,588 people in 2010.

The financial crisis of the Greek public debt has cost the Euro zone and other interdependent markets for 310 billion Euros. Germany and France are two largest creditors of Greek bond debts from 70 billion Euros to more than 80 billion Euros. Breaking down the creditors into regional groups, USA institutions holding 3%, Asia 3%, Europe 60%, other 5%, and Greece 29% are of 310 billion Euros. To forgive a partial of those debts is an open discussion with all creditors worldwide as well as reform policies and responsive actions from Greek government, central banks and others.

Greek GDP was $304.865 billion in 2010, GDP per capita $27,260, population of 11.319 million. The economy of Greece is contributed by private sector in generating 24.5% of GDP in 2009. To restructure the Greek economic system and budget management policies are two challenging jobs when the domestic market needs to add new economic activities in forms of new business ventures – manufacturing, financial services, tourism, education, sophisticated services – in order to increase the public tax revenue funds as well as allocate private funds into non-profit social programs to lower public costs on the government for years to come. For small business performance reports, many small businesses are gone under mass imports of cheap foreign products from Asia manufacturing hubs. Greece has only one solution of promoting tourism and other traditional services to increase sales revenues and tax revenues in addition of controlling the public spending budget.

The question here is education system and Greek entrepreneurs for new economic growth to reduce a spending budget and increase tax revenues.