Sunday, May 20, 2012

Video: Economic woes hit tourism in Greece



>>> -- now to the death crisis in greece , which is front and center at this weekend's g8 summit . the leader of the world's most powerful economy today urged greece to remain in the euro zone . the situation there is now so dire that the country can no longer account on its once booming tourism industry . we get that story tonight from nbc's stephanie goss.

>> reporter: the sun, the sea, the action news she want history. tourism is perhaps greece 's best hope of reviving the economy, but the country's instability is taking a toll on its most important industry in places like this. modern greece 's first capital and a base to expre a nearby ancient wonder. hotel owner had to drop the price of his rooms by 20% to fill his four hotels. he believes foreign tourists are worried about social unrest .

>> translator: it has a very big effect, he says, because people are afraid to come.

>> reporter: there is a lot of hope being placed on the next government. four weeks from now the country will have its second general election in as many months. political parties then don't agree with the bail-out plan and the harsh cut that come with it. maybe voted into power. without a bail-out, greece could be force outf the euroone and back to its own currency, the drogma. it would likely be worth half the euro. a return to the old currency, the drogma, is a double-edged sword. it would be a cheap place for tour uss, but an expensive place for greeks. it relies on exports, and it's a regular debate.

>> i would like to be out of europe, out of here.

>> reporter: a friendisagrees. he wants to stay in the euro and believes greece has to take responsibility for its debt.

>> we spent a lot of money.

>> reporter: greece has to spent much money?

>> yes.

>> reporter: elections restore stability, and then greeks hope their treasures and a desire to see them will help the country help change that bill. stephanie gosk, greece .

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