Greeks Rush to Buy Essentials, Stock Up on Cash

In a move that is probably too little, too late, Greeks are rushing out to buy essential food items and stock up on cash. From the AFP:

Greeks were hoarding cash and food Saturday amid mounting fears the economy could collapse, cracking open their wallets only to stock up on essentials and stripping supermarket shelves in the process.

Mothers, elderly men and university students were spotted pushing heavily overloaded trolleys or coming out of shops weighed down by bags of food, with essentials such as sugar, flour and pasta top of the list.

In the well-off area of Glyfada in Athens residents appeared to have panicked, thrusting everything from vast rolls of toilet paper to multiple packs of lentils into their carts.

"Most people are buying food now because they fear the worst," said Andreas Koutras, a 51-year old who works in finance, referring to a referendum Sunday on Greece's bailout which could seal its financial fate.

AFP photographs showed rows upon rows of empty shelves in supermarkets and shoppers said they were taking no chances, snapping up canned milk, chocolate and rice -- anything non-perishable that could be stored.

Middle-aged toy shop assistant Marilena, who was praying for customers on what is usually the busiest shopping day of the week, said her family was buying "food, only food, nothing else. Only what's necessary".

Some are less than sympathetic. This Daily Mail article probably reflects what a lot of Germans are thinking:

Greece in teetering on the brink of ruin - and it is hard not to feel sympathy for the pensioners crying in the street and the mothers facing empty supermarket shelves.  

Yet those reading a new book may find themselves feeling a little less compassionate towards the Greeks. It reveals an eye-popping catalogue of benefits scams and tax avoidance schemes that have robbed the public purse. 

James Angelos' The Full Catastrophe: Travels among the New Greek Ruins lays bare the corruption which filtered through all levels of society - from the islanders who pretended to be blind, to the families who forgot to register their parents' death and the doctors who 'earn' just €12,000 a year - yet live in Athens' most exclusive neighbourhood.