Nick Algar - Competition Secretary Posted July 10, 2015 Share Posted July 10, 2015 The Greek Bailout Explained ! 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 traveler will not suspect anything. At that moment the traveler 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 is how the bailout package works! 6 Quote Link to comment Share on other sites More sharing options...
Kit Car Electronics Posted July 10, 2015 Share Posted July 10, 2015 But the publican faces a less happy future Quote Link to comment Share on other sites More sharing options...
pistonbroke Posted July 10, 2015 Share Posted July 10, 2015 You forgot Fanny Tax Quote Link to comment Share on other sites More sharing options...
westy turbo Posted July 10, 2015 Share Posted July 10, 2015 In a true story the the 100 euros gave to the banks to suport the economy,and only 20 euros to the hotel owner.germany still owns war recovery..millions...the dont even care...what europe...gernany for a third time destroys europe slowly...not with guns this time...and as churchill said,germany should be bombard every 50.years... Long story and probably loosing my words any way...Greece wanted to fall for many reasons....and have succeded to few....we gave them answer few days...we as a.country dont fall easy...man that have power on their hands,ruin the country... Quote Link to comment Share on other sites More sharing options...
Lawrie Posted July 10, 2015 Share Posted July 10, 2015 But rich German tourists don't go to Greece any more - this is one of the problems. Quote Link to comment Share on other sites More sharing options...
bigals Posted July 10, 2015 Share Posted July 10, 2015 Let's not forget who started the mess in the first place sub prime mortgages being resold by corrupt bankers,,,,, Quote Link to comment Share on other sites More sharing options...
jeff oakley Posted July 10, 2015 Share Posted July 10, 2015 Let's not forget who started the mess in the first place sub prime mortgages being resold by corrupt bankers,,,,, In the case of Greece and Italy and Spain, that is not true at all. They joined the EU when they were in financial trouble and had the truth been known they were not fit to join. But once in they took the money on offer and spent it, on vanity projects and paying huge pensions at 56 When you add in that they did not collect taxes properly the money soon ran out. Austerity followed but it has not worked fast enough as it was not hard enough. At the moment Greece are arguing over borrowing money to pay back interest, which it cannot afford. The only thing Greece has going for it is the EU know it will suffer if Greece exits, but if a special deal is done Spain, Italy could follow suit. The best thing for Greece is to exit, get control of its currency devalue and trade out of the situation it is in by attracting tourists etc. As for Germany, all the countries wrote off German debt in 1956, including Greece they owe no one now and it is a red herring to bring that up. Greek people will survive but they cannot expect British and German people to work until we are 67 to pay into the EU so they can retire at now 60. The average Greek has been let down badly by successive governments and the corruption that has allowed tax avoidance to become the norm. Quote Link to comment Share on other sites More sharing options...
westy turbo Posted July 11, 2015 Share Posted July 11, 2015 Agree that we should gave never enter eu...for sure...it was part of the game... .i would prefer ro be out of it even now;and sucrifize 10 years of my life for my kids in order to have something better for them...now for the dept..its a mythos..like the beer..there is everywere one... Quote Link to comment Share on other sites More sharing options...
Northwarks Posted July 11, 2015 Share Posted July 11, 2015 I agree with Jeff, although the EU economy will suffer short term the best way out of the issue is for them to exit the EU, it will give them the breathing space to sort out their economy longterm and not just running around like headless chickens applying short term fixes. One of my work colleagues built a villa out there about 10 years ago, total cash economy, all the tradesmen wanted cash and no invoices, was a nightmare trying to manage it from the UK, he ended up out there 2 or 3 times a month just to pay cash to builders, if he refused or wanted invoices they would just walk off the job. He used to tell us they had two lots of accounts, an 'official' one for the banks and local government and the real one that was hidden away, this was typical for most businesses. So an economy where cash is the norm and taxes are not collected efficiantly will never truly survive in the EU, as a few have pointed out Greece should never have joined the EU, without the Euro they would be probably bobbing along nicely surviving on tourism and a cash economy. What I find amusing is the press running out of phrases for 'Crisis' when they discuss Greece, they went in to early with 'Crisis' leaving not much else to use for a headline Quote Link to comment Share on other sites More sharing options...
westy turbo Posted July 11, 2015 Share Posted July 11, 2015 Assh***s are every were..few more here....ever wonder they dont let us produce something?? Even cars or what ever?? Or u think we dont have the brains to do...the want us low...bigest brains of our country are used any were else in the world...the want us to be only the sunbed and souvlaki economy... Quote Link to comment Share on other sites More sharing options...
westy turbo Posted July 11, 2015 Share Posted July 11, 2015 Simple plan from them...damm on our actions by electing people that hoping to help...paying the price long term... Quote Link to comment Share on other sites More sharing options...
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