What’s Greek for Nemesis?
If the Russian bear is feeling bullish, the same cannot be said for Greece. Against stiff competition from Portugal, Ireland, Spain and Italy, Greece continues to hold the title of Sickest Man of Europe. Our TV and newspapers are tired of reporting riot upon riot in Athens as public sector salaries are reduced yet again and rich yacht owners sail off for quieter climes. Strangely enough, some sectors of the Greek label and packaging industries are not doing too badly, according to Greek label industry expert George Sarantides. One of these sectors is the short-run digital label sector. This may be partly due to brand owners changing to smaller pack sizes, or to a gradual rise in Greek exports. A reason quoted by some in the Greek label sector, according to Sarantides, is that EU regulations are just beginning to be applied to food and pharmaceutical products, with corresponding need to renew and redesign labels. If this were true it would be ironic, if we remember that Greece’s financial and economic woes started in 1999-2000 when its statistical office doctored the country’s accounts to make it eligible to join the Euro zone (which it did on January 1, 2001). Leaving aside the numerous accusations of high-level financial skullduggery, Greek label converters report that labels for export products like olive oil are almost unaffected by the crisis. Credit, however, is becoming unobtainable, so transactions tend to be in cash or even occasionally by barter, as bankruptcies cascade down from insolvent manufacturers to their suppliers. Currently there is no end in sight to the Greek crisis but Greek ingenuity is proverbial and manufacturers, suppliers and private citizens are constantly finding new ways, many of them legal, to make a living.
From Internet
