Hypotopia – a model city installed in the centre of Vienna by team of students from the Technical University designed to show how much housing and infrastructure could be built with the €19 billion the government is currently paying to bail out the Hypo Alpe Adria bank.
Having done the requisite calculations, they imagined it as a home for 102,574 residents- Austria’s sixth largest city , complete with shops, power plants, and garbage disposal facilities.
But no banks.
(H/T: David Smith)
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Wouldn’t mind but Austria, like many othrr Eurozone countries, are still in denial about the real state of it’s banks. We got caught with the trousers down. That hasn’t happened there …… yet.
http://www.zerohedge.com/news/2013-05-16/austrian-good-banks-baulk-bad-bank-bailout
for ants?..they need to be at least three times bigger!
Of course, if they’d let that systemically important bank collapse the Austrian Banking system you’d have no economy to build this magical town of make believe. And of course what to do with the tens dress of thousands of individuals and businesses that would lose their life savings, pensions, bank accounts. But sure, la la land you can take that money and just like, spend it on anything else…