Cash-short Greeks go on credit card-fuelled spending spree

Athens

USE it or lose it: that's the plan for many Greeks, who have been going on a credit card-fuelled spending spree as the economy has tanked out of fears that their cash could be confiscated or devalued.

Wary of the experience in fellow eurozone member Cyprus two years ago, when deposits were seized to recapitalise banks, Greeks are opting to drain their accounts by electronically paying taxes and bills - or buying luxury goods.