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News Summary: Greek crisis takes toll on industry

Friday - 6/15/2012, 1:53pm  ET

By The Associated Press

(AP) - 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.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)