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The Greek Bailout Explained.
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By (user no longer on site) OP
over a year ago
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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 prostitute 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 is how the bailout package works!
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By (user no longer on site)
over a year ago
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You forgot the bankers sitting in the luxury offices working out their bonuses lol lol lol where is their cut? They have a jet set lifestyle to pay for!
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"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 prostitute 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 is how the bailout package works!
"
And most obviously zero tax has been factored in xx |
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By (user no longer on site)
over a year ago
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Of course the tourist acts as the 'bank' in this case. The key difference is the bank will want MORE than 100 euros back with interest so along the line they will need to generate some additional return.
Essentially though that's exactly how economies work; £1 injected into an economy will be worth lots of £'s in true economic value, it's called the multipler effect
Sorry to suck all the fun out of the thread   |
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By (user no longer on site)
over a year ago
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"Of course the tourist acts as the 'bank' in this case. The key difference is the bank will want MORE than 100 euros back with interest so along the line they will need to generate some additional return.
Essentially though that's exactly how economies work; £1 injected into an economy will be worth lots of £'s in true economic value, it's called the multipler effect
Sorry to suck all the fun out of the thread "
Thats if you are a follower of Keynes and the multiplier effect applies mainly to government spending. |
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By (user no longer on site) OP
over a year ago
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"Of course the tourist acts as the 'bank' in this case. The key difference is the bank will want MORE than 100 euros back with interest so along the line they will need to generate some additional return.
Essentially though that's exactly how economies work; £1 injected into an economy will be worth lots of £'s in true economic value, it's called the multipler effect
Sorry to suck all the fun out of the thread "
You just couldn't help yourself could you. 
You could at least have waited until post 174.......  |
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By (user no longer on site)
over a year ago
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"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 prostitute 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 is how the bailout package works!
And most obviously zero tax has been factored in xx"
That's the problem the Greeks don't pay tax! |
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By (user no longer on site)
over a year ago
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"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 prostitute 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 is how the bailout package works!
"
Couple of issues. Why would the Eric inject E100 of capital in the gig just to look at the goods he may buy. Secondly how does the capital get repaid if non has been expended? Thirdly that's one hell of an expensive Greek hooker! |
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By (user no longer on site)
over a year ago
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"Of course the tourist acts as the 'bank' in this case. The key difference is the bank will want MORE than 100 euros back with interest so along the line they will need to generate some additional return.
Essentially though that's exactly how economies work; £1 injected into an economy will be worth lots of £'s in true economic value, it's called the multipler effect
Sorry to suck all the fun out of the thread Thats if you are a follower of Keynes and the multiplier effect applies mainly to government spending."
Well said, the multiplier doesn't work if you spend money on unnecessary crap, as governments tend to (e.g. the new planes Greek bought with its bailout money). If governments spending money made countries prosperous then north korea would be the richest country in the world and we'd all be speaking in Russian |
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"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 prostitute 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 is how the bailout package works!
"
So where is the shoe?  |
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By (user no longer on site)
over a year ago
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"Did you know that they lied their way into eu tho, they never had any monies."
The EU commission should have stuck with the old saying "beware Greeks Carrying Fuck All" seemingly!
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By (user no longer on site) OP
over a year ago
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"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 prostitute 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 is how the bailout package works!
So where is the shoe? "
That's a bloody good question!!!
Any ideas? |
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By (user no longer on site) OP
over a year ago
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"He took a long time looking at the room
It was a big hotel.
If it wasn't for the fact he was on his own I would have said he was shagging on each bed  "
Might have been a Fabber, working his wat through the membership....... |
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Except that this is not what happened in the case of Greece. This is closer to the truth.
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 puts it in his pocket.
The traveller comes down the stairs states that the rooms are not satisfactory and asks where his €100 Euro note is. The owner says I do not know, I had to pop into the back for a minute, although I did see that dodgy looking butcher around. The German is incensed but can do nothing and leaves town.
No one produced anything.
No one earned anything.
However, the owner is now €100 richer and looking to the future with a lot more optimism.
And that is how the Greek bailout package works!
Sound familiar ? |
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By (user no longer on site)
over a year ago
|
"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 prostitute 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 is how the bailout package works!
So where is the shoe?
That's a bloody good question!!!
Any ideas? "
It, along with its pair was found under my bed after a party. Size 4, black patent with gold coloured studs and 5" heels. Someone went home barefoot...... Any takers? |
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By *andS66Couple
over a year ago
Derby |
I think you'll find this is closer to the reality
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 puts 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 the German inspects the hotel.
The German comes down the stairs, picks up the €100 note, states that he's going to keep the money, and will take the good bits of the hotel, and pay the mortgage off, asthe bank needs the money. The bits of the hotel that are worth nothing, the bank will sell back to the Greek at the original price he paid for the whole hotel. The German pockets the money and leaves town.
No Germans produced anything.
No Greeks earned anything.
The German has good rooms to rent, with no mortgage.
The Greek only has stables to rent, and owes a new mortgage with higher interest rates.
The bank has their money back, but also keeps the mortgage, at a higher interest rate.
The German owns the bank.
And that is how the bailout package works! |
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By (user no longer on site) OP
over a year ago
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"am i the only person that thinks the greeks have played a blinder.borrowed shed loads of money and never ever going to pay it back,then we lend them more cracking bizz in my mind"
That's pretty much my pension plan...... Fingers crossed. |
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