fb

It’s a dog’s life…

It’s a dog’s life…

Greece has had a bad time of it over the last couple of years in terms of their finances but a recent announcement by their Finance Ministry may result in animals coming to the rescue.

When I say animals, I should be more specific and say that dogs will be helping out and not just any dogs but dogs who can sniff out money.

Let me explain a bit.

It’s been well documented that Greece has had a few financial problems. There were fears that they would crash out of the euro. Capital controls followed and there was a new international bailout for the country.

As a result, a lot of the Greek population perhaps understandably didn’t feel that confident in trusting the banks to look after their cash and a significant amount of money is being held outside of banks.

From November 2014 to July 2015 over 50 billion euros was withdrawn from the banks and It’s been estimated that between 15 to 20 billion euros is still being held by Greeks outside of the banking system.

That’s a lot of mattresses to be storing cash under and people are looking at avoiding capital controls and instead take the money out of the country without the authorities knowing.

Taking a suitcase of cash out of the country is seen as a safe option for a lot of people.

So, where do the dogs come in?

Well, a recent posting on a government website said that a team would be put together to assess tenders for the provision of dogs whose job is to detect cash. The dogs would be in place to sniff out significant amounts of cash being taken out of the country at border points.

Given all the money problems in Greece, one big advantage of this plan is that the dogs won’t be paid in cash. Instead, they will be more than happy to be rewarded with a biscuit or two…

Share this entry

Related articles

View All Articles

Recent articles

View All Articles
10 reasons CFOs are saying goodbye to their roles
Apr 02, 2025
Title
10 reasons CFOs are saying goodbye to their roles
Excerpt

Last year, chief financial officers (CFOs) left their roles at the fastest rate in six years, according to […]

Women at the top: EY becomes first Big 4 firm with dual female leaders
Apr 01, 2025
Title
Women at the top: EY becomes first Big 4 firm with dual female leaders
Excerpt

EY has just made history – Alison Duncan will take over as UK Chair of EY, joining forces […]

When Audits Fail: PwC, Wyelands Bank, and the £2.9M Mistake
Mar 26, 2025
Title
When Audits Fail: PwC, Wyelands Bank, and the £2.9M Mistake
Excerpt

What happens when auditors fail to properly understand the business they’re auditing? That’s the question at the heart […]

Volkswagen sells more sausages than cars
Mar 18, 2025
Title
Volkswagen sells more sausages than cars
Excerpt

No, we’ve not made an early April Fools Joke. It’s true. Volkswagen do sell more sausages than cars. […]

EY UK restructures leadership: 30 partners to exit
Mar 16, 2025
Title
EY UK restructures leadership: 30 partners to exit
Excerpt

The professional services industry is experiencing a shift, with EY announcing one of its most significant partner redundancy […]

Worth its weight in gold?
Mar 14, 2025
Title
Worth its weight in gold?
Excerpt

When most people think of gold, they picture sparkling jewellery, luxury accessories, or even Olympic medals. But gold […]

Over paid, under performing… the players or the shares?
Mar 11, 2025
Title
Over paid, under performing… the players or the shares?
Excerpt

Manchester United recently announced plans for a new 100,000-capacity stadium, with an estimated cost exceeding £2 billion. While […]

Top 10 unusual KPIs: strange ways businesses measure success
Mar 04, 2025
Title
Top 10 unusual KPIs: strange ways businesses measure success
Excerpt

Key Performance Indicators (KPIs) are essential for businesses to measure performance and track progress. While traditional KPIs focus […]