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"I don't use a card so I can't get any money," said Panagiota Sakka, surveying the shelves of bottles in the wine shop where she has worked for decades. She hasn't been spending on anything other than food. Even those who do use plastic are being frugal. Uncertain about when they'll be able to withdraw cash again
-- or even whether their bank will still be around next week -- few people are buying anything more than bare essentials. "The ATMs are putting out money, but who's going to spend it?" said Totis Pelecanos, whose shoe shop in the center of the old town usually does a brisk trade, especially during the midday lunch hour. These days, customers don't even bother going in to browse. "I think people are really, really scared of the actual environment we are going through today, and basically, they are hanging onto their savings, just for the basics like food." It's been a bad week. The last time Pelecanos sold anything was last Friday. The bank closures have also caused difficulties with imports and exports. At home, businesses are well aware of the situation and therefore willing to extend credit or delay payments. Overseas supplies are much less so: "The big problem is abroad, where businesses and suppliers don't have the same tolerance for late payments," said Cyprus Chamber of Commerce head Fidias Pilidis. Sergey Vyurkov, managing director of the Elysion Ship Management company based in the southern city of Limassol, knows that only too well. "For our business it's a very difficult time," he said. With ships traveling across the world, fees have to be paid or ships don't get serviced, and sometimes can't leave port. "We have to support our ships every day, always. We have to pay for the crew, for the fuel, for the port duty," he said. "We cannot stop because it is a world market and we cannot lose our reputation." Near the convenience store where Dobreva works, all businesses are having struggles with change. But there's solidarity. Dobreva recently counted hard-won coins she got by running around nearby cafes and shops and relying on the generosity of those who had some to spare. "This is a big problem," said Dobreva. "Now nobody has change. I run to colleagues, here and there, and if they have any they give me."
[Associated
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