, ,

So Alexis, tell me again how you plan to be prosperous without being competitive.
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

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.

And that is how the bailout package works!