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Greek economy stagnates as foreign suppliers demand cash upfront for goods

2015-04-01 14 Dailymotion

As Greece continues to negotiate with its international creditors the six year recession has turned the economic squeeze into a stranglehold.<br /><br /> Stagnation is everywhere with shops reducing stock and shoppers keeping hold of every cent of spare cash.<br /><br /> Mina Minetsi runs a high street clothing store in Athens: “Business is not moving, nothing is moving, it’s really worrying. With everything that is being heard every day – one day we have an agreement the next day we don’t – people aren’t shopping because they are afraid.”<br /><br /> Insecurity is killing trust with the country’s business confederation <br />saying foreign suppliers are demanding pre-paid invoices or even cash in advance.<br /><br /> George Kavathas is president of the confederation of craftsmen and merchants:“About 8,500 businesses will close in the first six months of 2015, and more than 20,000 jobs will be lost, both wage earners, the self employed and the employers.” <br /><br /> As the EU considers the package of reforms proposed by Athens in order

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