EUROZONE: can someone explain?

July 30, 2011 at 15:29:44
Specs: Windows 7
EUROZONE: can someone explain to me clearly what is going on?

Sorry, I'm really bad at this whole economics/politics deal.... can someone explain to me what's going on in Europe right now and how it's different from our situation in the US?

Additional background, history or future predictions also appreciated :)

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July 30, 2011 at 16:54:40
Have you done any Internet searches on the subject? This is a complex issue which is affecting the whole world and not only in Europe but the US as well. Australia has a Climate change policy which is going to throw a whole lot more spanners in the works. I think you need more information than the casual observer here is able to provide.

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July 31, 2011 at 02:31:31
The rain beats down in a small Greek town. It's cold. The streets are deserted.

Times are very tough. Everyone is miserable. They are all in debt and living on credit.

A rich German arrives at the local hotel, asks to view the rooms & puts on the desk a hundred euro note.

The owner gives him a bunch of keys and the German heads off to inspect the rooms.

The moment he's gone round the corner, the hotelier grabs the note and runs next door to pay off his debt to the butcher.

The butcher hurries down the street to pay what he owes to his feed merchant.

The merchant heads for the local bar and pays off his bar bill.

The bar owner slips the note to the local hooker who's been offering her services on credit.

She rushes over to the hotel to pay what she owes for the room hire.

As she puts the hundred euro note on the counter the German appears, says the rooms are unsuitable, picks up his hundred euro note and leaves town.

No-one did any work; no-one earned anything.

Everyone is out of debt; everyone is feeling better.

In Euroland, that's how a bail-out works !!

[ with thanks to the Financial Times ]

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