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Yes, it always struck me as odd that given the Scottish reputation for parsimony, that during the financial crash it was the Scottish banks that seemed to be in the most trouble!
Yes, it always struck me as odd that given the Scottish reputation for parsimony, that during the financial crash it was the Scottish banks that seemed to be in the most trouble!
Exactly the same happened with EU money assigned to countries such as Greece.
As I understand it, Euro rules mean that Euro banks can't be bailed out directly, so the Greek bailout money went vie Greece to bail out those Euro banks, mostly German, who had been recklessly lending to Greeks. The money they had been lending went, via ludicrous projects, into various business persons pockets. Same as over here and the USA. All a bit of a scam, really.
Been at least a year since I've written out a cheque and that was for a plumber who couldn't take a card payment and wasn't fussed if I payed cash or cheque.
The main danger of a full-on cashless system is banks introducing negative interest rates.
Infrastructure projects always exceed the estimates because if an accurate forecast was made the project would not even start. So you have to half the realistic estimate and offer that as the project cost. You then have to ensure that you have got another job when the revised costs are revealed.
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