Monday, 23 March 2015

We need to sleep on this

According to those clever people at Bloomberg, the providers of round-the-clock financial information, Greeks are keeping money under their mattresses rather than in banks.

And, again according to Bloomberg, those Greeks who aren't keeping money safely tucked under the mattress are keeping it under bathroom tiles.

This astonishing piece of news had me heading straight for my bedroom just in case I'd tucked some euros there. However, there was nothing. Zilch.

Similarly the tiles on the floor of our bathroom showed no signs of hiding a cache of cash. It's all very disappointing.

The women making these mattresses
are actually stuffing them with used
banknotes to save time.
To be honest, I'm not absolutely sure if it's Bloomberg that has made the claims about mattresses and tiled floors, or the website reporting on Bloomberg's report which is based on data from the Bank of Greece. This has shown that Greek banks have much reduced deposits and the money withdrawn from the banks is not being deposited in other banks.

Apparently about 10 billion € has gone adrift in this fashion and - I really want to believe this bit - the cash is under mattresses throughout Greece. It sounds unlikely to me, but maybe the Trojan horse sounded like a daft idea, too.

I did find a song about a mattress but I didn't like it so instead I offer you Midnight Oil singing Beds are Burning. Let's hope there's no money under them.

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