GREECE: Cheerless Christmas for Greek shop owners as holiday spending continues to fall

Record ID: 714386

  • Title: GREECE: Cheerless Christmas for Greek shop owners as holiday spending continues to fall
  • Date: 23rd December 2013
  • Summary: ATHENS, GREECE (DECEMBER 23, 2013) (REUTERS) VARIOUS OF PEOPLE AND BALLOON SELLERS WALKING ON CENTRAL SYNTAGMA SQUARE WITH CHRISTMAS SHIP DECORATION AND PARLIAMENT IN THE BACKGROUND MAN DRESSED UP AS SANTA CLAUS RINGING A BELL AND ASKING FOR CHARITY ON SQUARE VARIOUS OF CROWDS WALKING ON ATHENS' MAIN SHOPPING STREET PEOPLE WALKING PAST SHOP SELLING HOLIDAY DECORATIONS SAXOPHONE-PLAYING SANTA DOLL AND WHITE CHRISTMAS TREE FOR SALE VARIOUS OF CUSTOMERS INSIDE STORE LOOKING AT MERCHANDISE NUTCRACKER DECORATIONS INSIDE STORE (SOUNDBITE) (Greek) STORE CLERK PANAGIOTIS KAZERAKIS SAYING: "There are a lot of people coming in and out of the store, but they are limiting themselves to buying only essentials, they are not buying holiday decorations and gifts and are focusing on Christmas dinner. There is a crisis. It is obvious. On our part, we are trying to offer our goods at the lowest possible prices." JEWELLERY STORE OWNER INSIDE STORE GOLD AND SILVER NECKLACES ON DISPLAY (SOUNDBITE) (Greek) JEWELLERY STORE OWNER GIORGOS MAKRIADIS SAYING: "Turnover is about 40 percent less than last year. All these things they (the government) are saying are to fool us; that's what I have to say. Things are very difficult, people's moods are very low and we are all making a huge effort just to get by." PEOPLE LOOKING AT DISPLAY WITH SIGN READING (Greek): "Special 10-Day Sale" PEOPLE LOOKING AT MERCHANDISE ON SALE AND THEN WALKING AWAY SIGN READING (Greek): "Special 10-Day Sale" (SOUNDBITE) (Greek) PENSIONER KOSTAS FOUKAS SAYING: "Always less and less, we will buy fewer presents, fewer clothes and shoes, everything will be limited." (SOUNDBITE) (Greek) NOTARY ELEFTHERIA GERONTIDI, 32, SAYING: "I will be spending less than last year for sure, just like the majority of people in this country." (SOUNDBITE) (Greek) PRIVATE SECTOR EMPLOYEE SOCRATES MOSXOVELIS, 42, SAYING: "We are restricting everything; we just don't spend the way we used to. Christmas is a tiny exception, but in order to celebrate Christmas, you have to really have cut back in the previous months." VARIOUS OF WOMAN BUYING A GIFT
  • Embargoed: 7th January 2014 12:00
  • Keywords:
  • Location: Greece
  • Country: Greece
  • Topics: Economy
  • Reuters ID: LVA3MO22S2C3S47AWWGOTUYCMXTJ
  • Story Text: Athenians of all ages packed the capital's central shopping street on Monday (December 23) just ahead of the Christmas holiday but despite low prices, shoppers stuck with acquiring the bare essentials.
    In the midst of a recession and with unemployment holding steady at 27 percent, Greek shop owners said they were resigned to the situation and the only thing they could do was to lower prices even more than last year and hope to survive.

    "There are a lot of people coming in and out of the store, but they are limiting themselves to buying only essentials, they are not buying holiday decorations and gifts and are focusing on Christmas dinner. There is a crisis. It is obvious. On our part, we are trying to offer our goods at the lowest possible prices," said store clerk Panagiotis Kazerakis.
    But sales remained low.

    "Turnover is about 40 percent less than last year. All these things they (the government) are saying are to fool us; that's what I have to say. Things are very difficult, people's moods are very low and we are all making a huge effort just to get by," said jeweller Giorgos Makriadis.
    Christmas shoppers perusing the bargains in the festively-decorated stores often walked out empty-handed, and said they would be restricting their spending even more than last year.

    "Always less and less, we will buy fewer presents, fewer clothes and shoes, everything will be limited," said pensioner Kostas Foukas.

    "We are restricting everything; we just don't spend the way we used to. Christmas is a tiny exception, but in order to celebrate Christmas, you have to really have cut back in the previous months," said private sector employee Socrates Mosxovelis.
    Greece has been kept financially afloat by the euro zone and IMF since 2010 in exchange for severe spending cuts and reforms, including increased taxes, state job layoffs, reduced wages and pensions, and cuts to social, health, and pay benefits. Thousands of businesses closed or posed losses due to a plummet in consumption, forcing layoffs in the private sector as well. Living standards have dived, while poverty has risen over 20 percent.
    The government projects a return to growth next year and the end to a six-year recession. Its goal is to reach a primary surplus this year, which it says it will use to help the needy.
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