Implode-o-Meter News - A Way of Life Drowned by Greece's Crisis

Mr. Karadoulamas says sales are half what they were last year, when the hall might have had 1,000 people. The turmoil brought by the referendum Greece held this year and the bailout made matters worse, he says. "People are only buying cheap fish."
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Mr. Tzikas is the third generation of his family in the business. His daughter, Gianna Tzika, is the fourth, serving as Konva's managing director. Konva sells canned anchovies, sardines, squid, octopus, tuna, herring and mackerel. Greece accounts for around 85% of sales. With Greeks' incomes depressed, this is a problem.

A more complex one is that credit to Greek companies has all but evaporated. Konva must pay cash up front for fish. But the supermarkets that sell its products don't pay Konva for as long as six months.
... other costs the processors face remain high, among them gas and electricity. The worst may be the cost of credit. Because of the crisis, it costs Greek companies more to borrow. Konva pays around 6.5% on â‚¬28 million in debt. Elsewhere in the EU, it might be closer to 2%.

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A Way of Life Drowned by Greece's Crisis