For now, Greece is the only European country among the world’s top ten cotton producers. But it's feeling the pressure of globalisation. EU subsidies have been shrinking, while protective tariffs and import restrictions on cotton and textiles have been lifted in response to pressure from developing countriues and emerging economies. It's good news for countries such as Egypt, which can produce cotton cheaply, and also the US. As the world's leader cotton producer, its cotton farmers rely on generous subsidies — which keep its prices low on world markets. But Greece is losing out -- and an ancient tradition is dying out. Particualrly hard-hit is Thessalia, where thousands of families live from cotton farming.