| Micro explanation of how the Greek bailout works 10:08 - Mar 6 with 2013 views | pomanjou |
It is a slow day in a little Greek Village. The rain is beating down
and the streets are deserted. Times are tough, everybody is in debt,
and everybody lives on credit.
On this particular day a rich German tourist is driving through the
village, stops at the local hotel and lays a ¤100 note on the desk,
telling the hotel owner he wants to inspect the rooms upstairs in
order
to pick one to spend the night.
The owner gives him some keys and, as soon as the visitor has walked
upstairs, the hotelier grabs the ¤100 note and runs next door to pay
his debt to the butcher.
The butcher takes the ¤100 note and runs down the street to repay his
debt to the pig farmer.
The pig farmer takes the ¤100 note and heads off to pay his bill at
the supplier of feed and fuel.
The guy at the Farmers' Co-op takes the ¤100 note and runs to pay his
drinks bill at the taverna.
The publican slips the money along to the local prostitute drinking at
the bar, who has also been facing hard times and has had to offer him
"services" on credit.
The hooker then rushes to the hotel and pays off her room bill to the
hotel owner with the ¤100 note.
The hotel proprietor then places the ¤100 note back on the counter so
the rich traveller will not suspect anything.
At that moment the traveller comes down the stairs, picks up the ¤100
note, states that the rooms are not satisfactory, pockets the money,
and leaves town. No one produced anything. No one earned anything.
However, the whole village is now out of debt and looking to the
future with a lot more optimism.
And that, Ladies and Gentlemen, is how the bailout package works.
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| Micro explanation of how the Greek bailout works on 10:12 - Mar 6 with 2004 views | Hooparoo |
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| Micro explanation of how the Greek bailout works on 10:42 - Mar 6 with 1969 views | andygg |
Is that how TF got rid of the 60mill debt? |  | | |
| Micro explanation of how the Greek bailout works on 13:51 - Mar 6 with 1888 views | QPR_John |
"And that, Ladies and Gentlemen, is how the bailout package works. "
Tell that to the hotel proprietor |  | | |
| Micro explanation of how the Greek bailout works on 17:23 - Mar 6 with 1794 views | Juzzie |
What would happen if the €100 never got back to the hotel proprietor? |  | | |
| Micro explanation of how the Greek bailout works on 17:36 - Mar 6 with 1768 views | EastR |
| Micro explanation of how the Greek bailout works on 17:23 - Mar 6 by Juzzie |
What would happen if the €100 never got back to the hotel proprietor? |
he'd have to leave the EU. With his hotel. In a suitcase. | |
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| Micro explanation of how the Greek bailout works on 17:44 - Mar 6 with 1758 views | johncharles |
Seems all very reasonable to me. Everyone is happy and no big bonuses for fat bankers. |  |
| Strong and stable my arse. |
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| Micro explanation of how the Greek bailout works on 17:55 - Mar 6 with 1752 views | Match82 |
The problem here is presumably the assumption that the hotelier would immediately rush off and pay the butcher, instead of just pocketing the cash |  | | |
| Micro explanation of how the Greek bailout works on 17:59 - Mar 6 with 1748 views | ElHoop |
| Micro explanation of how the Greek bailout works on 13:51 - Mar 6 by QPR_John |
"And that, Ladies and Gentlemen, is how the bailout package works. "
Tell that to the hotel proprietor |
Precisely
The hotel owner has taken a 100 euro haircut. |  | | |
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| Micro explanation of how the Greek bailout works on 18:07 - Mar 6 with 1734 views | FDC |
Micro joke |  | | |
| Micro explanation of how the Greek bailout works on 18:09 - Mar 6 with 1726 views | FredManRave |
Typical bloody Germans. |  |
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