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Businesses can see their money but not touch it

Not an outcome I expected. The Olympics are beginning to make me feel quite sorry for business! Small, independent hotels and reataurants will find themselves unable to profit from advance bookings. PriceWaterhouseCoopers is assisting European Olympic Committees, who are worried about businesses going bankrupt, by setting up accounts in which money for bookings can be kept but not paid on to the companies until the event. They will be able to see their money but not actually get their hands on it! This delayed payment scheme is called escrow.

Maybe a better name would be Olympicscrew!


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