News Summary: Greek crisis takes toll on industry

AP News
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Posted: Jun 15, 2012 1:53 PM
News Summary: Greek crisis takes toll on industry

THE SCENE: The Komotini industrial zone in northern Greece, a bustling hive of activity in its heyday just over a decade ago, is now a picture of desolation dotted with abandoned and looted factories.

THE PLAYERS: Even in the companies that are still running, salaries have been reduced, workers are asked to take unpaid leave and people have been laid off in droves.

THE BACKGROUND: Credit has essentially dried up for businesses as Greek banks struggle and wary lenders from abroad hesitate to trust businesses with bleak futures.