Greeks go on spending sprees
While some buy food, others stock up on electronics to max out cards
As the going gets tough in Greece, the Greeks are going shopping.
The government was forced to extend capital controls and keep banks closed until at least Thursday as money runs out with no new bailout imminent.
While some people are using their remaining available euros to buy staples to cover daily needs, others are hitting electronics and appliance stores for Apple Inc. computers and Sony PlayStations to max out their credit and debit cards where vendors still accept them.
“People are spending the money they have in the bank because otherwise they’re afraid they won’t get it out,” said Natasa, 33, a shop assistant at electronics retailer Plaisio Computer SA in central Athens. She asked not to be identified by her full name. “A Mac is something that keeps its value,” she added, pointing to a gleaming 27-inch screen.
It’s the latest chapter in five long years of crisis for Greeks as their government resists calls from creditors for more austerity in return for rescue money.
Greeks have pulled about $44 billion US from banks since December, when it became clear elections would be held and Prime Minister Alexis Tsipras’s Coalition of the Radical Left, or Syriza, was set to take power.
Daily withdrawals at cash machines have been limited to 60 euros ($84 Cdn) since June 29, while credit and debit cards payments weren’t restricted. A shopping spree took place in the run-up to Sunday’s ref- erendum, in which Greeks rejected more austerity, Antonis Zairis, vice-president of the Hellenic Retail Business Association, said in an interview.
“It was a short-term phenomenon caused by panic and threats,” he said, adding that he expects shortages on shelves in 10 days.
At Delhaize Group, which operates the second-largest food retailer in Greece, demand for groceries is at peak levels, spokesperson Frank van Daele said. The Lidl supermarket chain also said it had seen an increase in customers in Greece.
“What television? What laptop?,” said Yannis, a pensioner in Athens. “There’s no money left. I’ve got enough to cover bills, food and that’s about it. If I need to call over a plumber in an emergency, I don’t have the cash.”