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Greek companies seek fortunes abroad

Greek companies seek fortunes abroad

Austerity measures, capital controls and high taxes are forcing many Greek companies to move operations abroad. Bulgaria and Cyprus are top of their list of business destinations.

Savas Rombolis, head of the union friendly “Institute of Labor” in Athens, revealed some alarming figures in Greek daily “Ta Nea” recently. Of 11 million Greeks, a mere 3.6 million are employed. A lot more people – 3.9 million to be precise – are unemployed or retired.

Greece is becoming a country of pensioners and unemployed people. One of the reasons for this phenomenon is the fact that more and more businesses fold or move abroad, at a loss of tens of thousands of jobs.

The Greek retail federation ESEE even calls it an exodus. It estimates that since the summer more than 60,000 Greek companies have applied for a tax number in Bulgaria and moved all or parts of their operations there, according to ESEE’s chairman Vassilis Korkidis in Greek daily “Kathimerini.” Read More…

 

Greek companies seek fortunes abroad

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