Europe has innovative 'credit-crunch offers'

Berlin: Lukas Schmidt was staring at the alluring photos of white sandy beaches and palm trees on display in the shop window of a Berlin travel agents but sighed and turned away. "I actually wanted to take my girlfriend to Spain in December, but I think we'll probably end up staying here," said the 27-year-old mechanic. "I don't think prices have gone up, but with this credit crisis all over the media, it does make you wonder what's going to happen next," he said. Like Schmidt, many Eur-opeans say they are cutting down on non-essential spending on things like holidays, furniture, clothes and organic food, and trying to save by shopping at DIY and discount stores in the face of the financial turmoil. But on the other hand, the crisis is creating novel business openings including "credit crunch" chocolate bars and "meltdown... [read full story]                    

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