Athens in 'intense' talks to avoid another loan default

Brussels (AFP) - Greece and its creditors were involved in "intense talks" over the weekend to agree on a new bailout before the debt-ridden country must repay 3.4 billion euros ($3.7 billion) to the European Central Bank on August 20.

European officials said sticking points still remain despite the progress being made, with a "generally positive reception... towards Greek readiness to vote on reforms this week.

"It is ambitious but feasible to come to an agreement in the coming days, preferably by 20 August," an EU diplomat said Saturday.

“If you’ll simply provide me a burger today, I’ll be sure to pay you back next Tuesday - also cover the tab for me as well, I’m just a little short today, and will pay everything then. You have my word on it.”

Tuesday comes, and unfortunately, the man can be found nowhere. But come next Friday, he’s out there again...

When asked about the amount already owed, he turns out his pockets. “As you can plainly see, I am flat broke today. I tried to find you on Tuesday, but I must have been looking on the opposite side of the town where you were looking for me.”

Once again, the tab for a couple days of burgers are paid for, and an extra which is consumed. Come the following Tuesday, no one can find the man. Finally getting a more brilliant idea, the generous person goes to the burger man - “When you see the man whose tab I’ve paid for the last two weeks, please give him my phone number, I would like to talk to him.”

The burger flipper won’t accept the number until the man pays for the burgers consumed on Saturday, Sunday, Monday and even that day where he rushed in for a quick bite to eat. Tab paid on the third week in a row, the phone number left.

The phone doesn’t ring on Wednesday, nor Thursday. But on Friday, the phone rings - it’s the burger man, wondering when he’d be by to pay the tab for three more days of burgers consumed. He refuses, saying that he should stop giving credit to the moocher and he’ll never see another penny from the man unless the bum gives him a call.

On Sunday morning, the phone rings again, it’s the burger man again - he knows exactly when the moocher will be in for another burger, and the man is invited down to wait for him to show up. He goes down there, and before he can settle down, the burger man wants the bill paid up to date. “You can collect from him when you see him, but you’re not waiting here without paying the outstanding bill.”

Bill paid, and an extra burger bought, he settles down to wait. At the stroke of noon, the bum walks in, and heads for the counter where his burger is waiting. The man reaches out and clamps a hand over the burger, telling the moocher that he’s been looking for him, and the repayment he’s been waiting for.

Once again, the sob story about how he’s got no money today, but next week will be better. The man doesn’t buy it. “You can start paying off your bill today, it will only take some time - you can start by mopping the floor!”

Eyes downcast, the bum agrees, quickly wolfing down the burger before heading for the corner to grab the mop and pail. Satisfied, the benefactor turns to look at the burger man with a smug look on his face. He hears the pail moving around behind him, even the slap of a mop, but all too soon, silence falls from that end of the room, and the man looks and doesn’t see the moocher.

The burger man holds out his hand, and the once generous man pays for yet another burger consumed by the cheater.

— 000 —

The moral of this story is quite simple: Empty promises of future repayment can be believed but once. Greece can only do as the United States is doing, promising payment in the future for a burger today, as well as the burgers for the past week.

Could they collect more taxes? Of course they could - but all that money will go to paying current bills, not loans. The ultimate in good time Charlie, because they spend their day spending someone else’s money. And if they work it right, they’ll never have to actually face that other person.

Now here’s the really good question: What actually happens when no one pays for the burgers in the story?

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.