The Greek Debt Explained
Â It is a slow day in a little Greek Village. The rain is beatingÂ down and the streets are deserted.Â Times are tough, everybody is in debt, and everybody lives onÂ credit.
On this particular day a rich German tourist is driving throughÂ the village, stops at the local hotel and lays a â‚¬100 note on theÂ desk, telling the hotel owner he wants to inspect the roomsÂ upstairs in order to pick one to spend the night.
The owner gives him some keys and, as soon as the visitor hasÂ walked upstairs, the hotelier grabs the â‚¬100 note and runs nextÂ door to pay his debt to the butcher.
The butcher takes the â‚¬100 note and runs down the street to repayÂ his debt to the pig farmer.
The pig farmer takes the â‚¬100 note and heads off to pay his billÂ at the supplier of feed and fuel.
The guy at the Farmers’ Co-op takes the â‚¬100 note and runs to payÂ his drink bill at the tavern.
The pub owner slips the money along to the local prostituteÂ drinking at the bar, who has also been facing hard times and hasÂ had to offer him services on credit.
The hooker then rushes to the hotel and pays off her room bill toÂ the hotel owner with the â‚¬100 note.
The hotel proprietor then places the â‚¬100 note back on the counterÂ so the rich traveller will not suspect anything.
At that moment the traveller comes down the stairs, picks up theÂ â‚¬100 note, states that the rooms are not satisfactory, pockets theÂ money, and leaves town.
No one produced anything.Â No one earned anything.Â However, the whole village is now out of debt and looking to theÂ future with a lot more optimism.