Economic crisis impacting Europe's coffee culture

[marmar]

from the WSJ:


MADRID—Deepening economic troubles have reached the soul of Southern Europe: the local café.

Across the region, consumers are forsaking daily visits to local coffee bars—considered by many to be the cornerstone of social life—as unemployment, wage cuts and higher taxes slash household budgets.

While Europe's per-capita coffee consumption remains the highest in the world, demand for less expensive options is growing. This trend has upended coffee markets, where coveted arabica coffee had traded at a hefty premium to its bitter counterpart, robusta, for more than two years.

Prices for arabica beans have dropped 30% so far this year while the cost of robusta has climbed 18%, moves that traders attribute largely to shifting demand in Europe. Meanwhile, the gap between the prices of the two coffees recently had shrunk to its smallest since July 2009, when the continent's debt problems were developing. ................(more)

The complete piece is at: http://online.wsj.com/article/SB10000872396390444082904577605492272301750.html

[xchrom]

1. Now that is depressing.

[marmar]

4. Tell me about it.......

....... is there any greater joy than sitting at a sidewalk cafe with a latte and people-watching along Boulevard St. Germain, or the Corso, or the Ramblas, or the Strøget, or ............... Sigh. I'm longing to be there.

[xchrom]

5. ...

[Romulox]

2. Oh dear. nt

[jsr]

3. Article shows coffee not working: