Chocolate no longer so hot as a consolation treat in these lean times

At the risk of insulting the better part of the world's female population, I have to confess that I'm not a fan of chocolate.

In fact, I haven't touched the stuff since my early 20s, when I put two and two together and realised that every time I had it, I got a migraine soon after.

So those famous feel-good endorphins that chocolate is renowned for were wasted on me. Not to mention the taste, which I was never really that fond of either.

I might be in the minority when it comes to the millions of chocoholics around the world (many of whom confess that they overindulge in the sweet treat when they are feeling down or can polish off a block or two for no reason at all), but even I was surprised to learn that cash-strapped consumers are giving it up.

According to Reuters, the assumption that chocolate is a recession-proof treat that consumers continue to buy despite the grim economic outlook has been proven wrong. Apparently, Europe's quarterly cocoa grind - an indicator of demand - last week suffered its sharpest fall on record.

Analysts said worsening economic conditions in the euro zone had prompted a sharp slowdown in European demand for chocolate and the outlook could deteriorate further if the crisis deepened, Reuters reported.

The European Cocoa Association, based in Brussels, said Europe's second-quarter cocoa grind fell 17.8 per cent from the same period last year to 292,551 tonnes, far worse than even the most pessimistic predictions of a fall of up to 12 per cent.

"We think the current slowdown in grindings reflects worsening economic conditions in the euro area," Francisco Redruello, a senior food analyst at Euromonitor International, told Reuters.

"If contagion spreads to Spain and Italy, this would have undoubtedly an impact on demand for indulgence products like chocolate."

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Property, they say, is the cornerstone of any smart investor's portfolio - as long as you buy in areas that are in demand, of course.

Which is why we wouldn't recommend buying a hotel in Outback Australia that has recently come on to market. The novelty factor, however, might be too hard to resist for some.

The Grove Hill Hotel, Reuters reports, sits on a red dirt road about two hours' drive south of Darwin, in the Northern Territory.

But there's a few catches: it's 180km to the nearest city, has no neighbours and is surrounded by snakes and crocodiles.

The owner, Stan Haeusler, 78, who has run it for the past 12 years with his wife, Mary, says he wants A$760,000 (Dh2.9 million) for the hotel even though it failed to sell at a recent auction.

"Occasionally, freshwater crocs come up from the river just 2km away," Mr Haeusler told Reuters. "The visitors get a fright when they move because you think it's a statue first off."

Then there are the non-poisonous pythons.

"They eat all my ducks and chooks [chickens] and whatnot," Mr Haeusler lamented.

No wonder he's struggling to sell it.

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There's nothing worse than knowing you owe money, more so when you put off paying your debt for years and the interest continues to accrue.

Imagine, then, how much you'd owe if the debt dated back 450 years and you were paying 6 per cent a year in interest on it.

That's exactly what Berlin, the capital of Germany, is facing.

According to a report by Reuters, the sleepy hamlet of Mittenwalde, in eastern Germany, could become one of the richest towns in the world if Berlin were to repay it an outstanding debt that dates back to 1562.

A certificate of debt, found in a regional archive, attests that Mittenwalde lent Berlin 400 guilders on May 28, 1562, to be repaid with 6 per cent interest per year, Reuters said.

According to Radio Berlin Brandenburg (RBB), the debt would amount to 11,200 guilders today, which is approximately equivalent to €112 million (Dh505.2m).

But adjusting for compound interest and inflation, the total debt now lies in the trillions, RBB estimates.

Uwe Pfeiffer, the mayor of Mittenwalde, has tried to ask Berlin for the town's money back. However, Reuters says such requests have been made every 50 years or so since 1820 but always to no avail.

Considering Berlin is already in the red to the tune of €63m, it would be safe to say it won't be clearing the Mittenwalde debt any time soon.