and NOW Ladies and Gentleman a story...... courtesy of 'Mark P' Ex fixed income dealer/London and now happily living in France in his Windmill.
Greek bailout
story
It’s a slow day in a little Greek
village. The sun’s beating down and the streets are deserted. Times are tough,
everybody’s in debt and everybody lives on credit. On this particular day a rich
German tourist driving through the village stops at the local hotel and lays a
€100 note as security on the reception desk, telling the hotel owner that
he wants to inspect the bedrooms in order to pick one in which 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 rushes next door to pay his debt
to the butcher. The butcher takes the €100 note and races down the street to pay
his debt to the pig farmer. The pig farmer takes the note and heads off to pay
his bill to the supplier of fuel and feed. 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. The hotel proprietor places the
€100 note on the counter so that the rich traveller will not suspect anything.
At that moment the tourist comes down the stairs, picks up the €100 note, states
that the rooms are unsatisfactory, pockets the money and leaves
town.
Nobody
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 ...
And that, ladies and gentlemen, is how the bailout package works ...
No comments:
Post a Comment