Greek Employers' Union Warns of Mass Exodus of Businesses to Bulgaria

Some 6000 Greek firms have relocated to Bulgaria over the last two years alone, English-language Kathimerini quotes a business representative as saying.

According to Giorgos Kavathas, who heads the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVEE), Greeks are behind some 60 000 new tax registrations and bank accounts in Greece's northern neighbor.

The GSEVEE President said on Tuesday that, according to a survey carried out by the organization, proposed changes to the social security systems could only push more businesses to flee.

His figures are much lower than the 60 000 reported by the National Confederation of Hellenic Commerce (ESEE) to have relocated since the summer of last year.

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