Modern Greece

Greece joined the European Community or EC in 1981, which later became the European Union (EU) in 1992. The country's tourism industry – which had begun to take off during the 1960s – began to flourish, bringing 5 million annual visitors to the country in 1980 (a figure that will eventually grow to over 17 million by 2007). The country suffered serious economic stagnation in the 1980s, but began to experience remarkable economic growth in the 1990s, fueled by heavy investment, entrepreneurship, trade, and EU aid. By the early 21st century, the Greeks have achieved a stable and prosperous nation, with a high standard of living. An influx of immigrants began in the late 1980s, transforming Greece, once an immigrant-sender, into an immigrant-receiving country. Foreign-born residents, most of them undocumented and coming from various parts of the world (Eastern and Central Europe, Middle East, South and Southeast Asia, and Africa) are estimated to number at least 1 million, or equivalent to 10% of the population. In 2004, the nation stepped into the global spotlight as it successfully hosted the Summer Olympic Games in Athens, to the defiance of critics. More recently, it has borne the brunt of the late-2000s recession and related 2010 European sovereign debt crisis. The main issues facing Greek society are a high and growing level of bureaucratic corruption, high unemployment, sluggish economic growth and widespread poverty.