Feeling The Pinch
With Christmas just a handful of weeks away (you can now count them on one hand), the gift-rush should be well and truly in full swing, though traders are experiencing a significant drop in visitors, especially those in the market sector for luxury goods.
Before the Euro crisis sparked concerns worldwide, despite times being tough, people were still spending without too much of a care. Though as soon as it became apparent as to the severity of the crisis in Europe and how it could change economies worldwide for decades to come if left untackled, with the same message being fed to everyone day after day, there is little surprise in the fact that people have stopped spending and are sitting tight, hoping to ride out the storm.
The trouble is, Europe doesn’t just have one problem country to deal with. On top of Greece, there are surmounting fiscal issues concerning Italy, Spain and Portugal, which will only exasperate the way people react by altering their spending patterns.
There seems to be few answers coming out of Europe and even when there are, there never seems to be unified answers by all member states.
It is so complex an issue that it’s going to take many years to return to anything like ‘good times’.
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