Icelandic Shoppers Splurge as Currency Woes Reduce Food Imports | WHAT REALLY HAPPENED


Icelandic Shoppers Splurge as Currency Woes Reduce Food Imports

Oct. 13 (Bloomberg) -- After a four-year spending spree, Icelanders are flooding the supermarkets one last time, stocking up on food as the collapse of the banking system threatens to cut the island off from imports.

``We have had crazy days for a week now,'' said Johannes Smari Oluffsson, manager of the Bonus discount grocery store in Reykjavik's main shopping center. ``Sales have doubled.''

Bonus, a nationwide chain, has stock at its warehouse for about two weeks. After that, the shelves will start emptying unless it can get access to foreign currency, the 22-year-old manager said, standing in a walk-in fridge filled with meat products, among the few goods on sale produced locally.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA