Retailers in Cyprus describe the 'struggle to survive'
The eurozone may be out of recession, but with unemployment at 17% and grocery retail down 10%, shopkeepers in Cyprus are still facing tough times.
Consultant Olympios Toumazou took BBC Radio 5 live's Drive reporter Dominic Laurie to Makarios Avenue in Nicosia - the Cypriot capital's equivalent of London's Oxford Street.
Olympios said, "This used to be the most premium street in Cyprus... but it's now becoming a ghost city."
For retailer Theodoros Nicholson, the situation is increasingly worrying, as 90% of the shopping traffic outside his store has dried up.
He claimed, "For us on Makarios Avenue the struggle for the next few years will be purely to survive."
23 Aug 2013
- From the section Business