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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The Green Man
10:38 on
24 June, 2015
Play the game Green Man.
Don’t you know that the Monarchy annually attracts visitors spending, usually unspecified millions.
Social security scroungers of the highest and most expensive order.
Ernie lynch,
I feel that capitalism with compassion is the most we can hope for. Given the right people in power and political will,much of the socialist ideals most of us would like to endorse could be achieved.
Eg : I believe the Scottish government have had the ability to change tax by 3p in the pound for some time, yet they have never used this power. Is this correct, and if so they already have the power to end austerity very easily.
HH.
Quonno,
What about all those jobs they create in the service industry
Ernie,
If we have indeed stumbled upon the final stage of economic evolution, and this system will endure ’til the end of time, the end is a little closer than we might imagine.
“Growth” is essentially consumption: We take planet’s resources, turn it into goods, and consume the goods.
These goods could be coal, computers or cream buns. It’s all consumed, and the more we consume, the faster the rate of “economic growth”.
But there’s a little problem in all of this: The startling impact of compound maths.
At a typical 3% annual ‘economic growth’, we double the amount we consume each year in just 24 years. And double again 24 years after that. And again after that.
Over the lifetime of a child born today, humanity’s consumption, based on a 3% ‘growth’ rate p.a., will be 8 times greater at the end of his/her life, that it was at the beginning.
So what does that mean? It’s good, yeh?
Probably not.
At 3% ‘growth’ we have only 800 years remaining until the Planet itself is entirely consumed.
4.5 Billion years of Planet Earth
Consumed entirely in just 800 years using the greatest economic system ever conceived.
Quality thinking.
You can get a somewhat better explanation here: http://www.theoildrum.com/node/7853 from Jeremy Grantham.
If you’re interested.
I wonder how much tax the Queen and her extended family manage to avoid, evade and simply dodge in a year.
quonno
They should be jailed.
Parasites who will stoop to any level.
Masons, friends of Jingle Jangle.
A more corrupt group of people….would be hard to find.
A truly sickening excuse for humanity.
HH
So will the Daily Mail exclusive tomorrow reveal how King David the GAS tried to offload his shares, leaving the 3 bears to cry into their porridge.
I wonder when the Oxford English dictionary will redefine the word “Gullible” to mean: See “Sevconians”.
Canamalar
10:49 on
24 June, 2015
Quonno,
What about all those jobs they create in the service industry
I forgot about those.
Bring back the tumbrils.
lionroars67
10:33 on 24 June, 2015
I think the SNP’s rapid repudiation of the notion that they would reduce the Queen’s income is more of a story.
It’s one think to talk left, another thing altogether to act left.
And of course I understand that you’d rather not focus on that aspect of the affair.
leftclicktic
10:35 on
24 June, 2015
It gladdens my heart to see they are still as deluded as ever:))))))))
stupid stupid zombies
——
Your gladness of heart is unlikely to diminish, Lefty. World record stupidity.
The Battered Bunnet
10:49 on 24 June, 2015
So was Malthus a hippy?
TBB,
That economic growth is always dependent on GDP, no ? And GDP is an abstract idea that can be varied and manipulated to suit what you want, so in effect you could actually increase the economic growth by simply changing the parameters you use year on year and actually have zero impact on consumption, no ?
In fact proper manipulation could identify negative impact on natural resources and that in fact we are creating natural resources and making the planet bigger.
The royals are very sinister to say the least.
The guillotine would be too good for them.
Dodgy, Dodgy people indeed.
Mired in corruption and vice.
Huns of the highest order.
True sevconians.
HH
“The guillotine would be too good for them.”
It’s a good boot in the arse they need
Canamaler
Nail on head…”.abstract idea that can be varied and manipulated ”
This explains how elite groups stay in control….metaphysical ideology
Take for example, the words….Democracy, Bourgeoisie, Socialism, Nationalism….and so on.
These words can be twisted to mean anything…..in reality they are merely mechanisms of social control.
Or, am I off my head:)
HH
Oop, database error beginning to show up again
The green man,
Like me and many on here pal, your off your head :)
The Green Man
11:01 on
24 June, 2015
The royals are very sinister to say the least.
The guillotine would be too good for them.
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Ridiculous statement for anyone to make!!
The guillotine is perfect for them….
Canamalar
I don’t think auld Phil would survive a kick in the ar*e.
Betty would be OK though.
Is this the end game ?
http://www.onfieldsofgreen.com/a-thousand-cuts/
NatKnow
I would not sully a revolutionary blade for such people.
Lock them up in a dungeon forever:)
HH
ERNIE LYNCH
Been reading GEORGE MONBIOT in The Guardian today?
I was gonna post a link to it earlier,but I think I may be pushing politics too much as it is. Difficult not to,the way things are. And it’s close-season. But good sense prevailed.
For once. Don’t get too used to it!
The Fagan approach would breed them out and bring Timmy to the top of the table. UFHS.
Whah hah hah.
Fitba –
Italian media claiming that Fabio Capello will be sacked today .
Italian media claiming that Andrea Pirlo will leave Juventus and sign for New York City .
England v Italy – UEFA Euro Under 21s Championship tonight ————-
” We need to win and hope that Portugal beat Sweden .. The players are up for it . Knowing that the opposition earn 3 or 4 times what they do has added to their motivation”
Luigi Di Biagio – Coach Manager Italia Under 21 24 / 6 / 15.
Coffee break over ———– back to the weeding
THE GREEN MAN
It would cost us more to jail them than to cosset them.
South Of Tunis
10:28 on
24 June, 2015
NatKnow @08 44 .
I love the drum and bass on Mr Spaulding . . Forever associated in my mind with early 80s pay at the door house parties in Harlesden..
Dread Beat An’ Blood — been a while since I last heard it — I like it . . There was a vg documentary/ issued with the same title. . His Radio One Series re the history of Jamaican music was very good ( IMO ).
Your mention of Jimmy Cliff reminds me ( sadly ) of my age.———–saw him in a dive in Lewisham when I was a teenager . ..Duke Reid was the DJ..
Cloudy and 30 degrees -way down south — clammy and seaty .
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I’ll check out those LKJ leads…ta.
Canamalar
10:57 on
24 June, 2015
TBB,
That economic growth is always dependent on GDP, no ? And GDP is an abstract idea that can be varied and manipulated to suit what you want, so in effect you could actually increase the economic growth by simply changing the parameters you use year on year and actually have zero impact on consumption, no ?
============================================================
Like ALL statistics – as long as you compare like with like, i.e. the array is consistent, you get the trend and answers.
The Green Man
10:32 on
24 June, 2015
SOT
Dread Beat An Blood…..Heard a very good version by LKJ
LKJ Live in Paris album….supported by a very fine band.
HH
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Another lead to check out…ta.
canamalar
11:08 on 24 June, 2015
I’m also getting it, but refreshing the page brings it back…..might have to refresh more than once to get it back, though….
Ernie
Dunno, but he was known to share the odd spliff with a young Darwin.
My kids came up with a great idea, a patron Saint for the Sevconians.
Saint Upid is perfect for them.
The discussions over the past few days have shown how important it is NOT to sign the wrong players (Pukki, Balde, Bangura)
Danny Wilson – bullet dodged
BMCUWP
Me…Cosset them:)
Hee, Hee
They would be screaming for mercy in five minutes flat, once I began the re-runs of sevco’s glorious failure last season.
Make them suffer.
HH
The Green Man
11:14 on
24 June, 2015
NatKnow
I would not sully a revolutionary blade for such people.
Lock them up in a dungeon forever:)
HH
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For a proper revolution blood needs to be spilled. The French didn’t mess about…
;-)
I think i will check out E-tims…they talk about Celtic over there.
THE GREEN MAN
A cruel and in humane punishment. Breaches their human rights.
thompsontwin
10:33 on 24 June, 2015
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You don’t offer up any viable alternative or solution, sorry to say.
Just continue on as before, sleep walking into the abyss.The current system is broken and unsustainable.It isn’t working. Fix it now by reneging.
Either that or else draw a line under the debt, pay whatever amount the country can afford, whenever it is feasible to make a payment.
No more extortionate interest payments.
Simple as that.
HH.