Greece’s supermarkets are being bled dry after the the government announced last week that the country’s bailout conditions would be put to a vote on Sunday July 5 — and now it’s set to get worse.
The announcement led to massive queues for ATMs across the country because Greece’s government shuttered banks and placed strict cash withdrawal limits on its citizens. Meanwhile, people have stocked up on food because the immediate fate of Greece is so uncertain.
If Greeks vote “Yes” — “NAI” in Greek — it means they accept bailout conditions. If Greeks vote “No” — “OXI” in Greek — that means they reject the demands and could pretty much lead to Greece leaving the Euro, although that is not absolutely certain. Prime Minister Alexis Tsipras went on TV this week and called for Greeks to vote “No” in the referendum. Polls show that the “Yes” and “No” vote are neck-and-neck
According to the country’s popular news site Ekathimerini, citing supermarket chains and food industry sources, Greece faces a massive shortage of fresh meat, fish, because soaring demand that import uncertainties.
The site said that supermarket turnover soared 35% in the first two days after the referendum was announced. The report added that “demand for non-perishable foods such as pasta, rice and beans may well lead to shortages earlier than expected.”
The report added:
Industries that use meats as raw materials, such as producers of sausages and cold cuts, are already experiencing shortages, which are hampering operations.
Shortages in Greek meat are also expected to start in the next few days, as animal food industries warned they only have sufficient stock until tomorrow.
In a Guardian newspaper report Vasilis Korkidis, head of the national Confederation of Hellenic Commerce, said that “imports, exports, factories, firms, transport — everything is frozen.” This therefore means with soaring demand and lack of ability to replenish stocks, it led to further shortages.
Greece is massively dependent on imports for food. If Greece were to leave the euro — a Grexit — this would massively rupture trade agreements and costs of shipping goods in and out of the country.
This is how dependent Greece is on imports for food: