Local Greek families keeping tabs on overseas economy - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC

Local Greek families keeping tabs on overseas economy

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CHARLOTTE, NC (WBTV) -The name Greek Isles brings pride to Charlotte's Photopolus family.

Reminders inside restaurant the Southend point to that, but for Frank Photopolous pride in many ways is overshadowed pain when it comes to relatives in Greece who are without life's basics.

 "You hear a little bit from the cousins that are our age, and it's difficult for them to find jobs," he said.

Gary Anderson is a local caterer who has followed the financial roller coaster in his parent's native country, and disappointed in the amount of poverty in a place that once had plenty.

Anderson said,  "We've got a lot of family that's struggling that are in the construction business who owns condominiums and apartments, and they're having a hard time selling them and a hard time collecting rent." It's real. It's absolutely real."

John Silvia is a Chief Economist with Wells Fargo Securities.

He feels, Sunday's election that supports keeping the euro and offering a bail out offer the first baby steps on a very long road of recovery.

"The challenge is you're dealing with long term behavior in Europe," he said. " You've got people who have been working for the government 30 40 years and now you're challenging their benefits."

It maybe a little stressful for Frank Photopolus.

His father Panos is in Greece this summer, and his brother George runs uptown's French Quarter.

He applauds the outcome of the election.

George Photopolous said, " In the long term, I think it's gonna help."

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