Crisis Empties Cyprus Market Shelves

Cyprus_Super marketWith banks closed since March 15 as the government struggles to find a way to satisfy international lenders and get a 10 billion euros ($13 billion) bailout, supermarkets in some places are nearly out of food as fears built and residents were limited to 260 euros ($335) per day withdrawal at ATM’s that were running out of cash.

That was the assessment from the Cyprus Supermarkets Association’s President, Andreas Hadjiadamou. He stated that “supermarkets’ supplies are sufficient for two or three more days” and added that “if a solution will not be found soon and the banks remain closed until the beginning of next week, there are going to be problems.”

He said that “if the suppliers remain to their initial decision to supply supermarkets only with cash, there will be empty shelves in the supermarkets.” He mentioned that “there is no danger for the time being but food shortages will be probably observed if the situation remains the same until next week.”

“The danger to have empty shelves in the supermarkets is visible, bearing in mind that the suppliers will not recall their decision and will not provide us with the support needed in these particularly new developments Cyprus faces.”

A Greek supermarket chain pointed out in a statement that “having a great sense of responsibility and wishing to give important help to the Cypriots, we announce our engagement to provide Cypriot supermarkets with sufficient basic products and a constant provisioning on Greece’s behalf so that there will be no food shortages.”