ESEE: Average weekly loss of Greek businesses 1.2bln Euros

3 in 10 Greek small businesses closed during capital controls

President of the Hellenic Confederation of Commerce & Entrepreneurship Vassilis Korkidis said that 9 out of 10 Greek businesses have recorded an unprecedented plunge in their revenues during the 2015 summer sales period.  Korkidis painted a gloomy picture of the Greek market saying that the drop in turnover during summer reached 70 per cent, while 3 out of 10 businesses had shut down. Import, export, wholesale and retail businesses are recording an aggregate loss of 1.2bln Euros every week, while the Greek state lost over 1bln Euros in indirect taxes over the same July. There was some hope amid the doom and gloom, as retail in the tourist areas, albeit also hit, recorded better results.