The Banking Crisis explained :o)

Comment by Keith Grover, NiS Founder on November 17, 2011 at 21:35

OK Mark - we'll allow you the occasional joke since you post so much useful serious stuff here...

Here's a follow-up about the Greek Euro bail-out package you might like:

It is a slow day in a sleepy little Greek village. The sun is shining 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 to the local prostitute who has also been facing hard times and has had to offer him ‘services’ on credit. She then rushes to the hotel and pays her room bill 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 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, Ladies and Gentlemen, is how the bailout package works.

Comment by Mark Williams on November 18, 2011 at 11:49

Like it ! Thanks for that Keith - definately forwarding that one to my friends.

Comment by David Spencer on November 20, 2011 at 19:13

Thought this might be interesting as well, a visual

 

http://www.bbc.co.uk/news/business-15748696

Comment by Mark Williams on November 21, 2011 at 10:35

Thanks for that David - to coin a phrase from Star Trek....." it's debt Jim , but not as we know it"

Comment by Keith Grover, NiS Founder on November 24, 2011 at 11:54

Thanks David - that's a great visual from the BBC - well spotted!

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