Greece, Ireland and Portugal By Neil Olsen Ireland Portugal Greece

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

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

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

GreeceIrelandPortugal 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: years 98% Greek and 2% other people/mile 2 4,015,676 about 4 million people/mile % 4.93 migrants per 1000 people Men: 74 Women: 80 Total: years Celtic and English 10,566,212 about 10.5 million people/mile % 3.49 migrants per 1000 people Men: 73 Women: 80 Total: years Homogeneous Mediterranean

GDP: GDP per capita: GDP growth rate: GDP composition by sectors: Inflation rate: Unemployment Rate: GreeceIrelandPortugal $188.7 billion $17, % 63.9% services 30.2% industry 5.9% agriculture $126.4 billion $31, % 49% services 46% industry 5% agriculture 2.2% 4.3% $226.4 billion $21, % 71% services 22% industry 7% agriculture 2.9% 10% 2.1% 6.5%

Government budget: -revenue -expenditure -balance Outstanding public debt: Current account balance: GreeceIrelandPortugal $54.39 billion $64.4 billion - $10.01 billion 112% of GDP or $ 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 $ billion - $8.12 billion

European Monetary Union The euro is the accepted form of currency in all three of these countries 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. 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.

Fiscal Policy As of February 2005, Greece has made payments of 180 million euros and received billion euros from the European Union. From Greece is expected to receive a total of 8 billion euros from the EU In 2003, Ireland received total funds of billion euros and has contributed billion euros. In 1993, Portugal received total funds equivalent to $837 million from the EC.

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.

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 isn’t 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.

Unemployment cont’d 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.

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.