This is about Scottish football but I take a while to get there. And I don’t think you’re going to like it, but something has been bothering me with all this news about Greece, there’s been a little dissonance.
Greece has come through seven years of devastating poverty and economic turmoil, the like of which has not been seen anywhere else in Europe, and within weeks it could get a lot worse.
Many Greeks with economically portable skills emigrated. Those left, the old, the infirm, the unskilled, and those who don’t want to abandon their family or country, have been left to deal with the consequences of a debt which dwarves their earning capacity.
Greece joined the euro and overnight were able to borrow money at cheaper rates than ever before. They borrowed and invested, but poor governments and lax taxation systems left them vulnerable. When the crash came, Greece was hopelessly unable to pay its debts, largely owned to German and French banks.
Back in 2008 the world’s banking system was on the verge of collapse. It is not an exaggeration to say that our economies, jobs, welfare systems, public services and more, were in jeopardy. Governments took steps to keep the banks afloat, but Greece owned money beyond their borders.
If they still had the capacity to issue their own currency, they would have defaulted, offered their creditors 10 lepta to the drachma, and quickly moved on. Prices would have skyrocketed overnight, many people would have been priced out of the basics, but tourists would have flooded in, as would new employers, to take advantage of the newly cheap Greek labour.
But since 2002 Greece has been using the euro. They could not print euros after the crash so had to come to a deal with their creditors, and that meant paying all their debts, in particular to the German banks who loaned them money, at an appropriate interest rate, years earlier.
It was appalling. Greece was not blameless, no European governments – or ultimately their electorates – were, but they were boxed into a corner and forced into a deal. Foreign banks, who were well-placed to weigh-up the commercial risk of their Greek loans, were beneficiaries of the squeeze put on some of Europe’s poorest people.
In January this year Greece elected a radical government. Syriza were voted in on a ticket to renegotiate the terms of what the world calls the ‘bailout’.
The bailout is an affront to the European Union, the IMF and the European Central Bank. The world’s governments needed to protect their banks to prevent complete collapse, but the deal imposed on Greek citizens is pernicious and disproportionate.
A game of brinksmanship is going on between Greece and their lenders, the Troika. Syriza are mandated for one thing and one thing only, renegotiate the current deal. I admire their resolve and hope the Troika accommodate their request for change, but the consequence of a failure to find an agreement is enormous, the like of which we have never seen in a modern economy. Those sitting at the Syriza side of the table know they may be marching their citizens off the edge of a cliff.
What’s this got to do with Scottish football?
For the Troika, read Mike Ashley, he was the lender of last resort, he was also the beneficiary of the loans. In fact, he loaned Newco money he’d already made from them. Those loans came with pernicious conditions. The profits he’ll earn from seven years merchandise rights are spectacular – and they will come from what I could argue is the most impoverished football club in Europe. Mike is the ugly face of capitalism (and there are pretty faces).
The analogy is not perfect. Rangers spectacularly defaulted. Newco’s early years have been more painful than they necessarily could have been, largely as a consequence of an organised group of Real Rangers Men who were determined to grab control of Newco’s assets for as cheap a price as possible. But if you are an unskilled Greek living on handouts, or an easily-led Rangers fan, who just wanted to watch his team, you were not the architect of your own misery.
Alexis Tsipras is no Dave King, he is an engaging leader and is not a criminal, but if he leads Greece into an abyss, he will be guilty of one of the classic failures of leadership – telling people what they want to hear in order to gain power, without any way of delivering on the promises made.
King may be doing the same. He strikes me as a man intent on recreating Jonestown in Govan. Unlike Tsipras, who appears to be making progress with his creditors, King has inspired division and boycott. I can’t picture him now without scenes from Jonestown flashing through my mind.
While I know I’m stretching the analogy between Greece and Rangers, there are many who have lost their livelihood, or football club, through the fault of more powerful men, who were paid to look out for their interests.
Mike Ashley is a figure of fun for us but be sure, he is not our ally. Our enemy’s enemy is not our friend. He’s just another in a long line of naked opportunists we were wise enough to avoid.
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Dena29
I think there are major changes fir the new season, as promised after the feedback sessions (2 years ago?).
I think the cards will be new, with new styles that turn; a new provider of pies and possibly security.
Cannae wait for a pie stall that sells pies like we used to do in the 80s, rather than the ‘nae pies’ healthy option adopted by section 406 these past 5 years.
oops
Banksy on Advertising
Coneybhoy
Cannae wait for a pie stall that sells pies like we used to do in the 80s, rather than the ‘nae pies’ healthy option adopted by section 406 these past 5 years.
I’m in 412 spent 25 minutes at the last game to get to the front to be told “no pies”
is it to much to ask to be told go back and watch the football your queing for nothing
HH
Definitely goodnight
HH
Dena29
The girl I gently complained to at the end of the season alluded to the fact that they will be gone
Allied to a few other hints, I expect pie certainty next season!
PJBhoynyc
23:45 on 23 June, 2015
oops
Banksy on Advertising
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
When you know what is transpiring, it is terribly linear.
We are just waiting for the Dominoes to fall, and they have been lined up since…. ;))
Dire straits are going to form a new band with Chris Rea.
They are going to call it Dire Rea
Mrs Birkin had a wee chat with Ronny D when he arrived back at Prestwick from his hols today. She was impressed by him and he sent birthday wishes to our youngest. HH
Greece lied to gain membership of the E.C.
Almore
You mentioned Garret Fitzgerald earlier. What an old fraud he was
..Garret the Good they called him..his cronies that is and his pals that ran the Irish Independent. ..an enemy of the working class if there was one. ..just like his blueshirt father
GaryG
Har har
I think we should go for 2 up front.
Jelle and ice cream
Lucy again with the ” I AM” Everywhere reference.
The Garden.
Naw, ye wullnae ever be Everywhere.
LOL Doll.
Thick Gnostic Feckers.
Greece`s debt is 1.8 times their G.D.P.
They can`t pay and they want to borrow more.
And the “bankers” are ,we are told,winners.
Macjay1
Based on what evidence?
Gaining acceptance to the EU if fairly loose and highly politicised. Greece got in Turkey did not. I can’t prove it but must have been political
I know Nothing.
I’m nothing, I won’t ever ascend, never mind Comprehend.
The Holly Wood.
Witchcraft is the Scooby Doo,
Shraggy 2,
Is this a message to me,
or to U2
I have no Ikea,
Unlike Abdul Qadir
What is really going on.
“For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places.”
Coneybhoy
00:24 on
24 June, 2015
Macjay1
Based on what evidence?
Gaining acceptance to the EU if fairly loose and highly politicised. Greece got in Turkey did not. I can’t prove it but must have been political
———————————————————————————————————————
Greece lied it`s way in (Check it for yourself) and vetoed attempts for Turkey to join.
Political.Yes.Old enmities………Ottoman Empire.Smyrna.etc.etc.
macjay
The EU would have performed some form of “due diligence” on Greece before allowing entry. Germany and France took on their debt, at a price. Basically, Greece is shopping in Crazy George’s on very expensive tick.
The banks are making a fortune in loan and arrangement fees.
Good front page again Paul, as we all would expect from our scribe.
However I detect some sympathy in your piece for the ‘follow follow, we will blindly follow..’ order.
Let me give you a flavour of my daily work life amongst the many “No Surrender” (never been) band I have to endure on a regular basis. “Warby will get us back intae europe, efter we beat ‘them’.. wilson and kiernan are class, and what weve been waiting on.. big weirsy is a rangurs man and knows what we are all about.. when king puts up his money, we’ll add afew more to the squad.. we’ll be challenging for the title and a place in Europe.”
This is the now the self same scenario that they saw with murray, king, white, green, the easdales, king (again), murray (other one) et al… all of the aforementioned were revered, welcomed and seen as the saviour and champion of their club.
I find it hard Paul to sympathise with this when their only objective is to be ‘the peepil’. Nothing by them has been learned, no lesson and no bitter pill.
Rot in hell.
So Phil was on the ball King did meet Ashley
http://i.imgur.com/c3RBCHF.jpg
MurdochAuldandHay, they put more spin on it than an Andy Murray top spin.
Jude, Bern, thoughts with both families.
ger57
00:53 on
24 June, 2015
Mate
The banks are screwed.
From memory,180 billion that will not be pepaid.
Forget Greece for the moment.
This is coming to a job centre near you.
It`s your problem and your children`s.
andyR53 @ 00:58
Well said!
“Do whit ye always done…get whit ye always got”.
They deserve a whole new world of grief every day…. and some more for good measure!!
As TD has been know to let them know.. GIR…ach,.ye know the rest!!
HH
TC45
Macjay1
Well there you go, the whole cabal are corrupt.
Greece had more cute hoors hiding the cash than the Irish tried their best to but now our finance minister is sucking up to Merkel as part of the right wing euro group.(bono talked at it in Dublin)
I am despairing of Ireland’ morals if we are picking on the Greeks
Just reading the Liverpool news. I predict 26 years with no title. Massive money does not buy s title. Most people in Dublin will be disappointed again
The more one looks at the situation at Ibrox the more one sees the long, slow bleeding out of the whole “institution.” The Chinese had a name for it; the Death of a Thousand Cuts. Razor blades as standard. Jelly & Ice Cream is strictly optional.
http://www.onfieldsofgreen.com/a-thousand-cuts/
James Forrest @ 01:44
Excellent read James, as usual!
Really getting to the heart of the matter..and what fun lies ahead for us readers.
Quick question…did you drop a nasal consonant in you heading “A Thousand Cuts” ?
Good stuff mate!
HH
TC45
Coneybhoy
01:32 on
24 June, 2015
I don`t have such a negative view.I have great admiration fo Merkel ,a survivor of Ulbricht and his henchmen.The reunification of Germany was a mammoth task which the Germans have achieved.They sure don`t deserve to be subsidising Greece .
Ireland has been a great disappointment.Who wouldn`t have celebrated the advent of the Tiger,together with the cultural blossoming which accompanied it.
I`m confident that Ireland,Portugal Spain anf Italy could return to much greater stability,if it weren`t for the current Greek crisis.
Frankly I hope that the nettle is grasped .
Finally.
Great read James. Would love know how many shirts they ordered and how many went unsold. Must ask Charles green,,,he wouldn’t lie,,1 per fan = half a billion
Macjay
Know your enemy. They will be hidden in camouflage…
http://www.indymedia.ie/article/100982
James Forrest
Exactly. Kamikazes Direct.
Any Bowie fan would recognize Ashes to Ashley…
Keep writing.
James Forrest.
My only fear is that the nonsense at Ibrox will envelope us all… I do not mean in Planet Fitba… I mean Planet everywhere. Period. The Mint and his banker buddies walked free after decimating Scottish Football. The same thing is happening beyond our favourite sporting pastime….
And worse…
But they continue to walk free…
In Defence of The Realm..
No Doubt.
pjbhoynyc @ 03:01 on 24 June, 2015
Chillax bro.. We are way too strong and organized.
They may think they walk free. Their freedom is totally boundaried by their own limitations ….they just don’t see it yet! The Bhoys are watching!!!!
HH
TC 45
Macjay1 – You don’t seem to realise that Britain is also a financial basket case, as is the US.
Difference being that these two jurisdictions still have lines of credit.
The debt owed by countries such as Greece is peanuts in comparison.
Question is – What would happen if the lenders… The financial institutions, World Bank, IMF etcetera were to stop lending money to Britain and the US?
The economies of both respective jurisdictions collapse, same as the Greek economy collapsed.
Granted both Britain and the US are attempting to pay back a little of what is owed, very much like Ireland did – but that is no guarantee of anything.
Nothing is infinite, particularly not lines of credit.
What you have is a world that has slowly but surely been enslaved by the said financial institutions.
American citizens, British subjects are no different from the Greek people.
The debt is there, and it always will be.
HH.
Britain’s debt clock:
http://www.nationaldebtclock.co.uk/
HH.
Sorry for the delay in replying gents… I was out for a beer with friends and where we were reminded me of a place we are all heading too with these bankers calling the shots with our politicians… see at the end of post. Ha Ha. You gotta laugh…
Coneybhoy
23:48
Agree. You are being kind with those words.
petec
23:57
Your words are correct. Terribly linear. Spot on.
Thecelt45
03:18
I should do so more. But you are right. KTF sir as I should….
16 roads – Celtic über alles…
03:26
Said it better than I could. its the fact people do not see this that drives me nuts.
Anyways…wee music spot for where I was tonight…
https://www.youtube.com/watch?v=UOg_8hCC4
Peace & KTF
Enjoyed your substantial article Paul67… Like old days if I may say.
16 roads – Celtic über alles…
03:26 on
24 June, 2015
Macjay1 – You don’t seem to realise that Britain is also a financial basket case, as is the US.
Difference being that these two jurisdictions still have lines of credit.
———————————————————————————————————————
That`s because they pay their debts…………Unlike Greece which doesn`t because it can`t or won`t.
I don`t agree that Britain and U.S.are basket cases.
Financial institutions have always ruled the world and,as long as people want to borrow ,they always will.It`s when financial cheats,like the Greeks,refuse to pay their debts,that`s when we`re all in the kak.
Poor wee Greece? Give us a break.
PJBhoynyc
02:55 on
24 June, 2015
I just don`t get it.
Who forced Ireland to borrow from Goldman Sachs or it`s susidiaries.
I`m broke and can`t repay what I borrowed.So it`s the banks fault?
On a personal level,I hold no candle for banks whatsoever.They have and will lend me money and allow me to purchase what I otherwise couldn`t.
Now they have also screwed me over,but that`s the price of doing business.
I accept that,because I can`t change that.
PJBhoynyc
02:55
Were you the N.Y.Celtic fan?
http://www.scotsman.com/sport/football/spfl/celtic-fans-still-to-see-best-of-me-mackay-steven-1-3810517