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Hard times for Greek businesses

Pedestrians pass by a vacant storefront in central Athens, on Tuesday, with banner reading “60 years of fashion” and “shutting down”. Small business groups warned Tuesday that the rate of store closures is expected to remain high in the second half of 2013, with 40,000 businesses expected to close in Greece, despite a successful bank re-capitalization program earlier this year.

Pedestrians pass by a vacant storefront in central Athens, on Tuesday, with banner reading “60 years of fashion” and “shutting down”. Small business groups warned Tuesday that the rate of store closures is expected to remain high in the second half of 2013, with 40,000 businesses expected to close in Greece, despite a successful bank re-capitalization program earlier this year.