Greeks Brace for More Pain on Wages
Dimitris Petsas wants pay cuts for workers at his underwear factory.
KOMOTINI, Greece (WSJ). Nearly 90 factories hummed in an industrial park here when Greece joined the euro. Only 26 are active today. The industrial decline on this mosquito-ridden coastal plain in northern Greece explains much about how the common currency compounded economic problems in southern Europe, and shows why emergency summits of European leaders alone can't cure the region's economic crisis.
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