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Filed Under:Diamond Importers, financial crisis, Greece, Mike Krauser, Ted Diamantis, Wine
A vineyard is seen in Spata, in the Nemee valley, near Athens, Greece. (Photo credit: ANGELOS TZORTZINIS/AFP/Getty Images)

CHICAGO (CBS) — The ongoing financial crisis in Greece has caused some sleepless nights for a Chicago businessman who’s worried about shortages of products imported to the U.S.

Ted Diamantis, owner of Chicago-based Diamond Importers, has been importing and marketing wine from Greece for 22 years. There are many moving parts involved.

“Moving parts is an accurate description. We have a lot of balls in the air,” including labor, transportation, bottles, corks, barrels, and even paper and ink all affecting his business on the supply side, according to Diamantis.

Leaders of European nations that have adopted the euro as their common currency have reached a tentative bailout agreement with Greece, which could have faced bankruptcy and possible exit from the Eurozone, amid a looming financial collapse.

“We are losing sleep because of the unpredictability, and we are also losing sleep because we have eight hours of difference and we’re constantly monitoring what’s going on through … our hourly conversations with our partners in Greece,” he said.

Although business has been growing at 20 percent a year in recent years, as more Americans embrace fine Greek wine, negative perception created by the financial crisis in Greece could erase those gains.

The final amount of the Greek bailout taking shape has yet to be agreed, but it is believed Greece needs in the region of $90 billion to avoid financial collapse.