Originally published on Wed October 24, 2012 8:00 am
Credit Fayez Nureldine / AFP/Getty Images
Austerity measures continue in Greece as the country sinks deeper into a recession. Incomes have dropped nearly 50 percent in some cases, but food prices are at record highs. The Greek newspaper Ekathimerini recently reported that the country has some of the most expensive food and the costliest dairy products in the entire European Union.
Originally published on Tue October 9, 2012 10:54 am
Credit Milos Bicanski / Getty Images
As the BBC puts it, Greece felt like two different places today: On the one had you had an "amicable and symbolic" state visit by Germany's Chancellor Angela Merkel and on the other hand, you had tens of thousands of protesters gathered across Athens who weren't too happy to see her.
Nicole Kotovos was searching for a way to start a new life when the idea struck her: She would go to her ancestral homeland of Greece and open an American-style bakery cafe. She would bring the cupcake fad to Athens.
What she didn't figure on was the historic downturn in the Greek economy.
The former New York TV producer arrived in 2008, just as the country's debt-mired economy was falling into a deep recession it still hasn't emerged from.
When the economic crisis erupted in Greece and the bottom fell out of the domestic wine market, the Kir-Yianni vineyard outside picturesque Naoussa decided to adapt. Like other wineries in Greece, it has increasingly tapped the export market, successfully marketing and selling wine in Europe, the United States and even China.
"If you ask me, this crisis has been good for us," says Stellios Boutaris, the son of the company's founder. "It's going to make us stronger."