"It is a slow day in a damp little Irish town. The rain is beating down and the streets are deserted. Times are tough. Everybody is in debt and they all live on credit.
On this fortunate day a rich German tourist stops at the town's only hotel and lays a €100 note on the desk as a deposit. He tells the proprietor he wants to inspect the rooms in order to pick one in which to spend the night. The owner gives him some keys and, as soon as his visitor has set off upstairs, he grabs the €100 note and hurries out of the building.
"The hotelier dashes next door to pay his €100 debt to the butcher. The butcher takes the €100 note and runs down the street to settle his debt to the pig farmer. The pig farmer takes the €100 note and heads off to pay his feed and fuel bill at the farmers' co-op. The chap at the co-op takes the €100 note and runs to pay his drinks bill at the pub. The publican slips the money across to the prostitute drinking at the bar, who has been offering him 'services' on credit. The hooker rushes to the hotel and pays off her €100 room bill to the proprietor.
"The hotel proprietor then places the €100 note back on the counter. A moment later the rich German tourist comes down the stairs. He picks up the €100 note, says the rooms are not to his liking, pockets the money, and leaves town.
"No one produced anything.. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism.
"And that, Ladies and Gentlemen, is how the EU bailout package works."
On this fortunate day a rich German tourist stops at the town's only hotel and lays a €100 note on the desk as a deposit. He tells the proprietor he wants to inspect the rooms in order to pick one in which to spend the night. The owner gives him some keys and, as soon as his visitor has set off upstairs, he grabs the €100 note and hurries out of the building.
"The hotelier dashes next door to pay his €100 debt to the butcher. The butcher takes the €100 note and runs down the street to settle his debt to the pig farmer. The pig farmer takes the €100 note and heads off to pay his feed and fuel bill at the farmers' co-op. The chap at the co-op takes the €100 note and runs to pay his drinks bill at the pub. The publican slips the money across to the prostitute drinking at the bar, who has been offering him 'services' on credit. The hooker rushes to the hotel and pays off her €100 room bill to the proprietor.
"The hotel proprietor then places the €100 note back on the counter. A moment later the rich German tourist comes down the stairs. He picks up the €100 note, says the rooms are not to his liking, pockets the money, and leaves town.
"No one produced anything.. No one earned anything. However, the whole town is now out of debt and looking to the future with a lot more optimism.
"And that, Ladies and Gentlemen, is how the EU bailout package works."
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