The Greek Debt Explained



 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 drink bill at the tavern.

The pub owner 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 hooker 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.

4 comments on “The Greek Debt Explained”

  1. Tom Ruffles says:

    I notice nobody is paying tax in this scenario.

  2. chris hughes says:

    Love it! Can we send it to George Osborne, please?

  3. Simon says:

    6 transaction of €100, with VAT at 20%, means €120 to the Government.

  4. Vivienne says:

    Just back from Greece where the rain, luckily, was not pouring down. Everyone seems quite optimistic, cash machines have money and we were treated to more free drinks than ever before! A taxi driver claims the Greeks have a cunning plan to bankrupt Germany.

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