Greek Crisis: Soon Even the Most Basic Goods Won't Be Available

Business owners are nervous in Greece. As part of the ruling Syriza party's efforts to stop a run on the country's currency, it declared that all banks would remain shut until next Monday, the day after the referendum on whether to accept the Eurozone bail-out deal. That move also prevents Greek firms from making payments to other companies abroad, so for businesses that import much of their stock, there is now no way to pay for many of their products. On Monday, supermarkets remained well-stocked in Athens, although there were fears that shortages could begin later in the week. Yet even if the banks do reopen as scheduled next Monday, it may take at least another week to clear the massive backlog of transactions.