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Posted on Sustainabilitank.info on July 17th, 2015
by Pincas Jawetz (pj@sustainabilitank.info)

Subject: The Greek Bailout

THANKS CLAUDIA FOR FORWARDING THIS TO IRITH – NOW EVERYBODY CAN HAVE AN EXAMPLE HOW THIS BAILOUT DOES MIRACLES.

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 EU100 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 EU100 note and runs next door to pay his debt to the butcher.

The butcher takes the EU100 note and runs down the street to repay his debt
to the pig farmer.

The pig farmer takes the EU100 note and heads off to pay his bill at the supplier of feed and fuel.
The guy at the Farmers’ Co-op takes the EU100 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.

Economics 101 . . .
It was Greek to me but
NOW I understand.

The hooker then rushes to the hotel and pays off her room bill to the hotel
owner with the EU100 note.

The hotel proprietor then places the EU100 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 EU100
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!


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