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Crisis will have a negative impact on business in Greece


Greece is on the verge of humanitarian crisis and the consequences of capital controls will have a negative impact on business.

Dimitra Tranou, one of Greece’s major florists, stated that many foreigners are revoking their wedding orders because of the financial collapse. And this trend will continue because many people consider Greece unstable.

In addition to this, businesses are unable to make payments to other companies abroad, so businesses which import their goods are unable to pay for them. Any payments of this kind won’t be possible until the decision is made on the referendum to accept the Eurozone bail-out deal. This referendum is scheduled for next Monday.

President of the Union of Greek Chambers of Commerce and Industry, Constantine Michalos added that as their economy relies on imports of goods, even elementary goods will be unavailable soon.

It has been reported that many people were collecting large quantities of rice, spaghetti and canned milk, and even petrol. Even though supermarkets shelves are well-stocked, there are some beliefs that shortages could begin at some point during the week.

Even if banks reopen as planned on following Monday, banks will be overwhelmed by the accumulated transactions which have to be resolved and dealt with.

In the meantime, people are waiting in line every day to withdraw a daily allowed amount of €60. Moreover, pensioners without cash cards are unable to do that. Many pensioners are left without any money because they can’t withdraw money from ATMs without cash cards.

The finance ministry is going to devise a special plan for people without cash cards.

The results of the crisis were noted by a a wine seller. Vassillis Repanis said that during the celebration of St Peter and St Paul’s Day he usualy sells about 25 orders. Now he sold only 7.

According to Mr Mitsotakis the only hope for Greece is to vote in favor of bail-out deal in the referendum.


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