Greece And Athens: Small And Medium-Sized Garment Enterprises Are Seriously Affected By The Economic Crisis.

A survey released by the Athens handicraftsmen chamber of Commerce showed that about 85.4% of Greece's small and medium-sized enterprises were seriously affected by the economic crisis.

The survey shows that SMEs are mostly building materials, electrical appliances, clothing and decoration industries.

Because of the economic crisis, Greek consumers first cut back on the consumption of these non essential necessities.

Of the surveyed enterprises, 90% of the enterprises declined in 2009, compared with 2008, the average decline was more than 1/3.

Enterprises generally expect that the situation will be worse in 2010.

According to the survey, 40% of SMEs said they would face the threat of closing down, and 40% of them expressed optimism that Greece would overcome the crisis in two or three years.

Most respondents believe that the Greek economy will be in a very difficult time for a long time.

Many enterprises say that if the government does not have any rescue measures, it will further lay off workers.

In response to the debt crisis, the Greek government announced a series of fiscal tightening measures at the beginning of this month.