A protester shouts slogans as he marches towards the parliament with others during a general labour strike in Athens April 9, 2014. (REUTERS/Yorgos Karahalis)
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Nikos Mavrikos has fired half of his employees since 2010 as the Greek economy imploded, leaving his ship supply business on the verge of collapse.Greece is experiencing a remarkable financial recovery. On Tuesday, Greece sold six-month Treasury bills at the cheapest borrowing cost since 2010 .Thousands of businesses closed across Greece last year.Mimis Vanos, who runs one of the biggest marine supply companies in Greece, has like his colleague Mavrikos seen an uptick in demand.Greece's economy is the most dependent on bank lending in the eurozone, with bank credit to the private sector making up 40 percent of total funding in 2000-2008 compared to 33 percent across the single currency bloc.Lending from the stricken banking sector dried up, leaving many firms starved of cash even though the shipping business, which accounts for 5 percent of Greece's overall economic output, held up better than many other sectors.The Hellenic Ship Suppliers Association said 40 percent of its members had gone out of business since 2010 when Greece's economic disaster began to unfold.
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