reporter: while the volume of consumption remains stable taste have changed with the national economy. the medium priced wines have suffered. and people are moving to cheaper wines. so bulk wine or bag and box. reporter: on the scale of human suffering, we have witnessed in greece in recent days, the future of wine trade doesn t feature too highly. the european wine is crippled by the possibility that its relationship with modern europe is about to change dramatically. this winery received no new orders for the last week as greek banks stayed closed and owners don t know what currency they will be using next week to run the business. the euro are a much weaker drakma. it could be huge for a business that relies on european supplies. paper for our labels.
not while this vote is imminent is there any way that greece can regain its economic footing in the near future after this? not in the near future. the idea would be in the medium term future. if there is a no vote and subsequent default and greece does end up leaving the eurozone they would quickly begin to print their own currency again, return to what s called the drakma and that currency would not have a lot of value initially. that s very tough for the greek people and the creditors of greek loans. it means that they would be able to export more successful than they can right now. for the medium term when this kind of thing has happened historically countries have been able to regain their footing. it takes a while for that kind of those kinds of dynamics to take shape. we know that greece is not the only one having financial issues right now. we have china, also facing an economic slowdown. how worried should we be about
they believe is the heart and soul of greece in the future. the political future the economic future whether it is a no vote and they fight harder with the europeans, whether it is a yes vote and they agree to more austerity. having the banks closed for a week has been so devastating that whatever happens, the greek people are in line for some very difficult negotiations and more austerity. what is it at the core of the issue of whether local currency or the euro could save this economy? reporter: well we re a long way from the drakma coming back. it doesn t exist. it went a long time ago. tomorrow s referendum vote is not about bringing back the dram drakma. the yes campaign says eventually, if no wins the dramma will be the inevitable
saying that 57% of greeks if they had to answer the question between euro or drakma she would say euro. this was very interesting. this poll was conducted three days started on the 24th ended on 26th midnight just an hour effectively before the prime minister made the announcement of a referendum and it also shows that the vast majority of people would actually agree to pay bailout to a bailout deal if this was proposed to them. so the timing of this is very significant because the euro group said that they were actually working on yet another proposal and an improved proposal when the greek prime minister made this announcement. we re also waiting for a number of political developments here of course as we follow the bang situation but i think this clearly shows that the support for the euro is still there in greece. she s reporting for you on
the arab league has released a statement criticizing syria s failure to end the violence against protesters. preliminary results show nicaraguan president is heading for certain re-election in sunday s presidential election. he enjoyed strong support thanks to anti-poverty. and a solid victory was won in guatemala. lady gaga stole the show at the mtv mewes acusic awards. justin bieber, eminem and katy perry were among the other top winners. those are the headlines from cnn, the world s news leader. i m zain vergee and world business today starts now. good morning from cnn london, i m charles hodson, this is world business today. here are our top stories on monday, november 7th. as the greek prime minister george papandreou prepares to bow out of politics, the focus shifts to italy, can silvio berlusconi s political career survive another parliamentary vote? tourism in thailand takes a knock as business travelers and holidaymakers cancel their trips. we look at the