Changes

Greece has realigned its economy as part of its transition to full EU membership that began in 1981. Greece last held the rotating EU presidency in the first half of 2003. Greek businesses continue to adjust to competition from EU firms, and the government has liberalized its economic and commercial regulations and practices.  

Greece has realigned its economy as part of its transition to full EU membership that began in 1981. Greece last held the rotating EU presidency in the first half of 2003. Greek businesses continue to adjust to competition from EU firms, and the government has liberalized its economic and commercial regulations and practices.  

Greece has been a major net beneficiary of the EU budget; in 2004, EU transfers accounted for 3.6% of GDP and are estimated to have been approximately 3.2% of GDP in 2005. From 1994-99, about $20 billion in EU structural funds and Greek national financing were spent on projects to modernize Greece's transportation network in time for the Olympics in 2004. The centerpiece was the construction of the new international airport near Athens, which opened in March 2001 soon after the launch of the new Athens subway system.  

Greece has been a major net beneficiary of the EU budget; in 2004, EU transfers accounted for 3.6% of GDP and are estimated to have been approximately 3.2% of GDP in 2005. From 1994–99, about $20 billion in EU structural funds and Greek national financing were spent on projects to modernize Greece's transportation network in time for the Olympics in 2004. The centerpiece was the construction of the new international airport near Athens, which opened in March 2001 soon after the launch of the new Athens subway system.  

EU transfers to Greece continued with approximately $24 billion in structural funds for the period 2000-2006. Bureaucratic obstacles have led to significant delays in Greece's absorbing these funds which means that Greece may forfeit a portion of that. The same level of EU funding, $24 billion, has been allocated for Greece for 2007-2013. EU funds will continue to finance major public works and economic development projects, upgrade competitiveness and human resources, improve living conditions, and address disparities between poorer and more developed regions of the country.

EU transfers to Greece continued with approximately $24 billion in structural funds for the period 2000–2006. Bureaucratic obstacles have led to significant delays in Greece's absorbing these funds which means that Greece may forfeit a portion of that. The same level of EU funding, $24 billion, has been allocated for Greece for 2007–2013. EU funds will continue to finance major public works and economic development projects, upgrade competitiveness and human resources, improve living conditions, and address disparities between poorer and more developed regions of the country.

==History==

==History==