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Turkey: The "Baklava Bailout" of Greece

photo by Yigal Schleifer

This one is certainly going to hurt Greek national pride: According to the Wall Street Journal, famed Athenian baklava seller Epe has not only been importing Turkish baklava for the last decade to sell in its stores, but has now had to be bailed out by its supplier from the east. From the WSJ's article:

Greeks and Turks have bickered for centuries over which nation makes the better baklava, a sticky-sweet dessert of layered pastry devoured in huge quantities across the eastern Mediterranean and the Middle East. But for the past 10 years, Turkey's best-known producer, businessman Nadir Gullu, has been supplying Greece's closely held Baklavas Epe, which operated five stores in Athens. He provided about two tons of baklava and other Turkish sweets per month.

Old rivalries aside, Athenians lapped them up—until, that is, they ran out of cash.

Baklavas Epe's most profitable shop is on Athens's landmark Syntagma Square. Before the crisis, tourists and locals queued up in droves to buy the pastries. But as the government embarked on a severe austerity program to reduce its debt burden and qualify for international support, demand sank.

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Turkey: The "Baklava Bailout" of Greece

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