EFTA01156156

Duration: 2:35 · 34 segments
[0:00]words. Your name is Roger, yes? Roger. Ah, that's your name? Roger. Good. And what do
[0:06]you do, Roger? I'm a financial consultant. Consultant, eh? Roger, yes. Yeah, terrific.
[0:10]And, Roger, how's business at the moment? Not bad, thank you. Been a bit quiet lately.
[0:16]How do you mean lately? Since the war, been a bit quiet. Fair enough. Okay, Roger, your
[0:21]special subject tonight is the economies of the European community. Your time starts now.
[0:26]Now, best of luck. Thank you. How much does Greece owe, Roger? $367 billion. Correct. And
[0:33]who do they owe it to? Mostly to the other European economies. Correct. How much does
[0:37]Ireland owe? $865 billion. Correct. And who do they owe it to? Other European economies,
[0:44]mostly. Correct. How much does Spain and Italy owe? $1 trillion each. Correct. Who to? Mainly
[0:51]France, Britain and Germany. Correct. And how are Germany, France and Britain going,
[0:56]Roger?
[0:56]Well, they're struggling a bit, aren't they? Correct. Why? Well, because they've lent all
[1:01]these vast amounts of money to other European economies that can't possibly pay them back.
[1:05]Correct. So what are they going to do? They're going to have to bail them out. Correct.
[1:09]Where are they getting the money to do that, Roger? That's a good question. I don't know
[1:14]the answer to that one. How much does Portugal owe? Hang on a minute. What was the answer
[1:18]to that earlier question? Just keep answering the questions, Roger. Where is Portugal going
[1:22]to get the money it owes to Germany if Germany can't get back the money it owes to the
[1:26]European countries? Well, the question was, how can broke economies lend money to
[1:33]other broke economies who haven't got any money because they can't pay back the money
[1:37]the broke economy lent to the other broke economy and shouldn't have lent it to them
[1:40]in the first place because the broke economy can't pay it back? You're wasting very valuable
[1:44]time, Roger. How much money does Spain owe to Italy? $41 billion, but where are they
[1:49]going to get it? Correct. What does Italy owe to Spain? $27 billion, but they haven't
[1:54]got it. They're broke. Correct. How can they pay?
[1:56]Each other if neither of them has any money. They're going to get a bailout, aren't they?
[1:59]Correct. And where's the money coming from for the bailout? That's what I'm asking you.
[2:04]Correct. Why are people selling the European currency and buying the US dollar? Because
[2:08]the US economy is so much stronger than the European economy. Correct. Why is that, Roger?
[2:14]Because it's owned by China. Correct. And very well done. And after that round, you've
[2:19]lost $1 million. I've lost $1 million? I thought you said well done. Yes, well done. You've
[2:24]only lost $1 million. That's a million.
[2:26]That's an extraordinary performance, Roger. I've only lost $1 million. Very well done.
[2:29]And that's quite good, is it? Excellent. Sell everything immediately. Quickly.