Never mind coals to Newcastle. Greece is importing olive oil from Germany. And it’s a result of the eurozone crisis.
Recession in Greece, prodded along by the EU/ECB/IMF troika, has led to a slump in the domestic price. Growers have cut back on their production as a result. At the same time, the euro fixes relative exchange rates. For over a decade, German imports have been comparatively cheap for Greece.More