Following the aftermath of the Second World War when Greece was devastated, a national industry in shipping emerged as an ideal opportunity due to the abundance of surplus vessels available for purchase from the world's navies. Emerging shipping families, who had fled the country and settled in the USA, took advantage of this situation, leading to the establishment of Greece as the leading country in terms of merchant marine fleet size, with a quarter of global freight capacity based there.
Greece became infamous for their economic stagnation following adoption of the Euro and subsequent over-spending and debt accumulation. But in recent years their economy has been improving and, while it isn't out of the woods yet, there have definitely been big improvements that are worth celebrating. Are they still broke, or will Greece's economy be an example to others how to recover from financial meltdown?
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