Greek businesses flee to Bulgaria

Page last updated at 08:00 GMT, Thursday, May 3, 2012 - 13:00 EST

Greece's economic problems may be having a negative impact across much of Europe, but one country could be benefiting from its troubles.

Greek investors are said to be jumping across their neighboring border to Bulgaria, money in hand.

"It's a very sad reason but it is happening actually," says Georgy Ganev, an economist from the Center for Liberal Strategies. "Even some Greeks are transferring their monetary balances from Greece to Bulgaria -- obviously hedging the risk for Greece leaving the eurozone."

Leaving the eurozone is the solution to Greece's troubles, according to markets analyst Louise Cooper, from BGC Partners. "Greece has to exit the Euro, it has to get competitive, has to devalue currency and then almost needs a Marshall Plan," she says. "Austerity has destroyed the country."