ECONOMY

Merchants desperate for government

The commerce sector in Greece is anxiously observing developments in local politics as the prospect of another extended period with a lack of governance is certain to deal a fatal blow to the local market.

According to the National Confederation of Greek Commerce (ESEE), the number of people employed in the sector posted an 11.3 percent annual decline, while the number of employers shrank by 18.2 percent compared to the same period in 2011.

Some 63,000 businesses are close to shutting down, ESEE estimates.

Its president, Vassilis Korkidis, added that the latest data are extremely worrying. He said that the market is virtually frozen, with only the food sector registering an increase in turnover.