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Cash is king as Cyprus crisis bites — EUbusiness com | EU news, business and politics

( NICOSIA) - With their country battling an acute banking crisis, Cyprus retailers are demanding hard cash for their goods, but worried residents say they will soon run short of money as banks stay firmly closed. With no end in sight to the turmoil, petrol stations, cafes, restaurants and neighbourhood kiosks are insisting on payment in cash, rejecting outright debit and credit cards and cheque transactions. Some larger stores were still accepting plastic, however. We have pressure from our suppliers who want only cash. I have no option but to ask for cash from my customers, said Demos Strouthos, manager of a restaurant in central Nicosia.

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