Greek companies seek Balkan refuge from debt storm

RAKOVSKI, Bulgaria — Iosif Komninakidis smokes nervously behind his desk in the sleepy Bulgarian town of Rakovski and contemplates plunging sales of his Greek company?s trendy jeans.

Business in Komninakidis?s main market Greece was already in freefall when an election left Bulgaria?s neighbour rudderless and further threatened its solvency and euro membership.

?Sales to Greece went down 30-35 percent. After the vote, they completely stopped. People just stand and wait,? said the energetic 57-year-old manager of Staff Jeans

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.