Greece, basically a look at what America will be by 2020 will likely run out of money this coming weekend. With this, food shortages are likely to follow in Greece. Remember all those pictures of Venezuela with the empty grocery store shelves? That’s likely coming to Greece.
Shelves remain full for now as retailers have inventories in storage. But capital controls put in place after Greece defaulted on a loan to international creditors have essentially frozen companies’ cash flows and credit.
This has severely hampered production and shipping, meaning that goods are in finite supply. With this week’s rush to supermarkets, shortages could be around the corner although budget limits are providing some cushion.
However, nobody knows how much these can last. It all depends on which product we are talking about.”
With no international bank transfers, imports and exports have been clobbered, according to SEV-Hellenic Federation of Enterprises, meaning there are fewer raw materials, even for local production, and less petrol available for deliveries.
| Greece out of money, food shortages this weekend |
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