Basic Economy

Cretan economy has always been a mystery to me.

Wages, on average, are low, while cost of living is high.

Can I pay later? is a common response, and yet new villas, maisonettes, chicken sheds with Jacuzzis for all I care, pop up like  mushrooms on a rainy day, not to mention shiny new automobiles on every street corner.

Dining out seems to be a habit rather than a luxury and setting up new businesses is our island’s favorite pastime.

So, I am confused.  With all this complaining about finances, who actually funds all the aforementioned, where is the money . . . SHOW ME THE MONEY!

As I am not one to sit and wonder, I turned to my investigative journalism talents and tried to find this money. I searched under befriended mattresses, checked neighborly freezers, juggled many a foreign piggy-bank and came up with . . . zip . . . no hidden treasures. I chatted up a bank-manager, grilled an accountant till well-done.

Still nada – niente – only a frustrated search that came to an end last week, all by itself. It happened like this.

A gypsy lady walked into my shop and requested a temporary tattoo. As she was not in possession of sufficient funds she proposed to trade a tattoo for one of her brand-new brand-name day creams.

All sirens went off and the lights went on.

There was my answer! That’s what they do, they trade. Goods in exchange for services, services for advice and advice for goods . . . a beautiful round circle, as it was, in the way of old American Indian traditions.

Food in exchange for plumbing, olive oil in exchange for plastering, shelter in exchange for . . . well, on it goes.  

It even works with bank loans. I’ll co-sign yours if you’ll co-sign mine, et voila; there are the cars and houses!

Now, I fully understand there is a down side to this. The only real money we see comes from tourism, so hail to all tourists, may you stay forever, and only the banks actually own anything substantial. But, as long as it works, hell, I’ll go for it!

After full acceptance of the above revelation please note the following:

Available for trade:

1 broken car with great working engine

1 broken washing machine, great as side table

1 brand new Maltese puppy

Many beads and mirrors

Wanted:

1 working scooter

1 side or coffee table

1 egg laying chicken

Use of cow or goat