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How the Greek debt pinch stole Christmas

August 25th, 2015 by

The state of the global economy has Santa sitting a week away from bankruptcy


Santa needs a miracle.

According to Bloomberg, Dianordia Oy, the Finnish company that offers children around the world the opportunity to meet Santa and his elves at the Santa Claus village in Lapland, Finland, is in the red by $223,660 and has a week to pay it back. It's chief executive pointed to global economic headwinds, namely Greece's debt crisis, that pushed the euro into a speedy decline, tourism to a halt, and Santa toward bankruptcy (poor guy). 

Shrink-wrapped economy

Finland's shrinking economy is now in its fourth straight year of economic contraction, with unemployment topping 10 percent for the fifth consecutive month and unit labour costs up to 20 percent higher than its main trading partners. 

The holiday spirit

But Santa - and his elves - remain hopeful. Following the news, Santa's Helpers posted an optimistic message on their Facebook page: “Despite the current news, lets keep smiling and work for a better future. Tide will change, we have a week to turn this around,”

That's the spirit. If there's one thing Santa has mastered over the years, it's miracles.

Want to read more?

Bloomberg: Santa is Four Months From Christmas – But a Week From Bankruptcy


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