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Thread: No wonder Europe's screwed.........

  1. #1
    Regular Member Bigglesfliesundone's Avatar
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    Default No wonder Europe's screwed.........

    EUROPEAN BAILOUT MECHANISM EXPLAINED IN SIMPLIFIED ECONOMIC TERMS:

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

    The butcher takes the 100 Euro note and runs down the street to repay his debt to the pig farmer.

    The pig farmer takes the 100 Euro note and heads off to pay his bill to
    his supplier of feed and fuel.

    The guy at the Farmers' Co-op takes the 100 Euro note and runs to pay his drinks bill at the tavern.

    The publican slips the money along to the local lady of the night drinking
    at the bar.

    The local lady of the night then rushes to the hotel and pays off her room
    bill to the hotel owner with the 100 Euro note.

    The hotel proprietor then places the 100 Euro 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 Euro 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 - I'm told - is how the bailout package works ..... Genius !


  2. #2
    Regular Member FatboySteve's Avatar
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    Not really true is it ? surely they all produced something, and got paid, it's just that the hotel owner borrowed the 100 euro's, and then paid it back with money he was owed for services (renting out the room to the lady of the night) without any interest of course.

  3. #3
    Regular Member Bigglesfliesundone's Avatar
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    "surely they all produced something (created debt) and got paid"
    Break this down - they all created something and created debt - this is before the woman introduced then 100 euro bill - THEN they all got paid using the same 100 euro bill - effectively wiping out all the debt - THEN the 100 euro bill was withdrawn as the service it was meant to pay for (hotel room) wasnt satisfactory
    Therefore no service was provided for the 100 euro bill but it was used to pay everyones debt then it was taken away by the same person who introduced the money.....therefore nothing was produced between the money being introduced and the money being removed but all the debt disappeared!!!!!

    This was meant to be a joke.............................................. ............................

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