Greek Diaspora in Canada Affected by Greek Economic Turmoil

Greece’s economic turmoil is increasingly affecting the Greek diaspora, including the 250,000-plus members of the Greek-Canadian community and their many businesses.

According to ‘The Globe and Mail’, Canadian-born and raised, John Nikolouzos moved to Greece eight years ago to help run his family’s business building holiday homes on the island of Corfu.

Last month, he returned to live in Toronto – bitter about the unravelling of Greece’s economic and social fabric, and worried about the fate of his family.

Greece’s debt crisis – which has forced the government to slash spending and raise taxes – has lead to tremendous hardship for that country’s citizens. Unemployment is now up to a record 18.4 per cent, while riots and protests continue to rage in the streets of Athens.

Moreover, ‘The Globe and Mail’ underlines that one of the biggest uncertainties for Greek-Canadian business owners has been the disruption brought on by a series of strikes.

Panagiotis Tsiriotakis imports olive oil from his family’s land in Crete, bottles it and sells it to Canadian retailers. He notes that every day, a different group goes on strike in Greece, from trucking to customs to the ports. “Then the ships don’t even go into port to collect it,” he said. “Nothing is stable right now.”

But for most Greek-Canadians, the impact of the Greek turmoil hits much closer to home, with many sending money oversees to help affected loved ones.

“People in Canada, whether they’re Greek, Italian, Portuguese or German, we all know what’s going on there,” said Mr. Katsanikakis, who came to Canada in 1968 at the age of 16, ‘The Globe and Mail’ says. “We feel for our homeland and what is happening to the people over there.” In a globalized economy, he said, “We are all connected and affected by it.”