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Big banks under pressure in Europe crisis

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It is a gloomy day in Rhodes. It's raining and all the streets are deserted.

The times are bad, everyone is in debt and all live on credit. On this day runs a wealthy German tourists by Rhodes and stops at a small hotel. He tells the owner that he wants to look at a room, and maybe stay for a night. He places, for security, a € 100 bill on the counter. the owner gives him some keys.

1.The visitor is getting started up the stairs, the hotel owner takes the bill, runs over to his neighbor, the butcher and pay his debts.

The butcher takes the € 100, running down the street and pays the farmer.

The farmer takes the € 100 and paid his bill at Cooperative warehouse.

That man then takes the 100 euro note, runs to the bar and paid for his beverages.

5.That man pushes the bill to a prostitute sitting at the bar who also has hard times and some of the man's favors had been given out on credit.

The hooker runs to the hotel and paid for their outstanding Hotel bill with the 100 €.

The hotelier puts the bill back on the counter.

At the moment the traveler comes down the stairs, takes its Bill and says that he likes none of the rooms and he leaves Rhodes.

No one produced anything. No one earned anything. All parties got rid of their debts and look with great optimism into the future.

So now you know it, how the EU rescue package works.

2 ( +3 / -1 )

Don't know why the numbering came out so strangely...

-1 ( +0 / -1 )

Foxie:

" So now you know it, how the EU rescue package works. "

No, it does not work that way. In the real world, then wealthy German tourist pays an outrageous amount, and then is asked the amount again, until he is broke. And everybody else too.

-2 ( +1 / -3 )

Yes pass some Euros to Greece,to circulate and get rid of debts.

A stronger and debt free greece,can even become a lender to EU financial epicentre(the Euros printing centres).

The Euro currency is solid in value. The US feds,can solve woes with decreasing value of US dollars. EU feds,can also solve Greece ,if they unite to solve cash circulation woes of Greece.

In the end ,after Greece solve its woes,it should try to change more. EU nations need less govt interference mechanism in the economic systems. Bailouts don't cure,but just postpone the actual remedy,to the woes.

The problem,is too much govt in the finance systems of EU. Just build solid strong Euro currency and let the best do well.

Baliouts is actually is using good money,to help problematic companies of a nation. The problematic business entities in a nation,need big changes with bailouts dollars.

Just bailouts dollars,won't solve woes of a bailout entity.

Changes in management styles and other dynamic changes via educational empowerment,must be sufficient too,to prevent future bailouts.

0 ( +1 / -1 )

It is a gloomy day in Rhodes. It's raining and all the streets are deserted.

Foxie, i agree 100% with your example, though it is rather difficult to come across a gloomy day in Rhodes. :-)

1 ( +1 / -0 )

Antonios, but not in October I once was there in a terrible storm. The same happened again about 2 weeks ago.

0 ( +1 / -1 )

The idea that the Northern European countries can bail out the PIIG countries and their lender banks forever is crazy. This can only work until the Northern Countries are bankrupt themselves. The Euro politicians seem to be determined to go this way. If the voting populations will permit that is something we will see. Until now, they were largely ignorant about the problem... it could be papered over, and the media hardly touched the subject. But this is changing rapidly now.

-2 ( +0 / -2 )

Antonios, but not in October I once was there in a terrible storm. The same happened again about 2 weeks ago.

Oh, thats unfortunate. I know it occurs occasionally since i was studying in the Aegean University of Rhodes and there was once a storm strong enough to be compared to typhoon. Nice avatar, btw!

0 ( +0 / -0 )

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