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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I had the great fortune to question a so called expert in economics who tried all the jargon he could to try and confuse, the bottom line is he and most economists don’t actually have a clue what they are talking about, when cornered like most bullshit artists they blawhard with jargon then blame the listener because the listener does not understand the incoherent drivel being spouted, capitalists are the easiest, so when they start giving it large about how impossible socialism is they tend to deny the existence of the “point of equilibrium” or drivel on about how they’ve never heard of it. It is after all primary school economics, what is not taut is that it’s the capitalists job to ensure that point is never achieved and that ideally demand should always be ahead of supply. Where this is not the case it’s usually down to political manipulation, something they claim is not part of their economic ideology.
That’s why I choose engineering, the better the engineer the easier the subject is to understand when discussed, when I hear jargon and bluster I know I’m talking to a shyster who was good a passing exams.
When I listen to an economist I know I’m listening to a shyster irrespective of exams. Economics is a lie.
NatKnow
David Cameron, Lord Osbourne, IDS, Boris…..the whole lot of them, would be dispatched before you could say ” we’re all in it togeather”
There will be a very , very long list:)
HH
NATKNOW
For a proper revolution blood needs to be spilled. The French didn’t mess about…
~~~~~~~~~~++~~~~~~~~~~
Reminds me of an old Derek and Clive sketch,discussing a visit to the Soviet Union.
‘I’ll say one thing about them though. Fantastic health service. No messing about with waiting lists over there. First sign you’re ill,they shoot you’
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
11:14 on 24 June, 2015
‘ERNIE LYNCH
Been reading GEORGE MONBIOT in The Guardian today?’
###
No. I seldom read the Guardian nowadays. Apart from the incomparable Nancy Banks-Smith whose output is now restricted to a monthly review of The Archers, not that I listen to The Archers.
The green man,
“I would not sully a revolutionary blade for such people.
Lock them up in a dungeon forever:)”
That would cost much needed resources to feed and guard them
Monaghan 1900 – you said:
“Of particular amusement, James, is that they do not realise that where a contract of loan does not specify a repayment date, the loan is repayable on demand.”
If that’s the case, why did MA call an EGM to get the loan repaid?
Yeah …E-tims are talking about Celtic sure enough.Good piece about Broony
Canamaler
Who said anything about feeding:)
As for guarding…..members of the revolutionary insurrection committee, would have to take turns.
HH
Their gullibility knows no bounds, really do deserve all they get. Bumping their gums before a ba’s been kicked.
Any thicker and they’d set.
Heartless ———-
On the way out / Mrs S of T in the kitchen preserving capers , radio droning on and on and on about Greece .–
Mrs S of T( with a smile ) ——– ” We’ve got 1000 drachmas —-if they default , shoes will cost peanuts there “
The Clash have a lot to answer for.
The sevconians will be gutted that they never signed the Thistle mascot….would have been perfect for them.
HH
The Green Man
11:25 on
24 June, 2015
NatKnow
David Cameron, Lord Osbourne, IDS, Boris…..the whole lot of them, would be dispatched before you could say ” we’re all in it togeather”
There will be a very , very long list:)
HH
————————————————————————
The good news is it won’t take long to identify them! :-)
Phyllis Dietrichson:
He called the EGM to see if they had the money to pay the loan.
He knows King doesn’t have the coin. He knows Park does, but won’t pay it until King puts his hands in his pockets. He knows even some of the Sevco fans will question why the club doesn’t just want this monkey off their back.
It’s smart stuff. He’s sowing dissent and creating a pretext for his next series of moves.
As Paul said in his fine blog yesterday, this guy is a bad man. He’s not our friend, but I wouldn’t want him as an enemy and they went out of their way to make him one.
So everyone is allowed to be in debt.
However it’s a nationwide outcry if it looks like the SNP may be a fiver in the red.
The real fear is that FFS works, and the country comes on leaps and bounds.
The real hope is that the EU fails.
The real hope is the single currency fails.
We’ve built a country, sorry a family of nations, on that.
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
11:26 on
24 June, 2015
NATKNOW
For a proper revolution blood needs to be spilled. The French didn’t mess about…
~~~~~~~~~~++~~~~~~~~~~
Reminds me of an old Derek and Clive sketch,discussing a visit to the Soviet Union.
‘I’ll say one thing about them though. Fantastic health service. No messing about with waiting lists over there. First sign you’re ill,they shoot you’
————————————————————-
Classic stuff mate! You’ve put me in the mood to look some of that out…
ernie lynch
10:52 on
24 June, 2015
The real story is of your political allies in the MSM from the better together campaign, continuing with a failed strategy of scare stories about the SNP, remind me how that worked out at the GE for Labour
As i said Ernie time for a new PR campaign, to continue with the last disastrous campaign is rather foolish, brain storming session with the boss at Labour HQ required
The gent in the ole pop-up ad offerin’ to teach me a ‘killer blues guitar solo in 10 minutes with just 4 notes’ bears an uncanny resemblance to the great Dick ‘SlowWallet’ Byrne; although four notes was way beyond the Embrocations usual repertoire.
Unless ole Dick had managed to cadge a jazz cigarette in the Ladies torlet.
Thompsontwin,
“Like ALL statistics – as long as you compare like with like, i.e. the array is consistent, you get the trend and answers.”
Like all politically motivated statisticians manipulation of the statistics is easy and arrays Are easily manipulated to appear consistent especially with a mouthful of jargonised drivel to explain and confuse on inconsistencies a wee example might be pretty much anything published by the Tory govt! unemployment figures maybe.
Or the reduction of the national debt, our national debt is coming down faster than ever, it is also increasing faster then ever but that’s not what they want out so that’s what the MSM are told to avoid.
Glastonbury Festival @GlastoFest 2h2 hours ago
It’s a glorious morning on the farm – you can see live pics on the @bbcglasto webcam at http://bbc.in/glastocam
Canalamar
Economics is the study of how scarce resources are, or should be, allocated among competing uses. In itself, it’s a legitimate tool for decision makers when they spend our money. The problem is that those in power distort and manipulate the numbers to achieve what they want. Same applies to any of the humanities, philosophy, history,religion.
Economics could be useful if we could only get rid of the economists.
HH
Phyllis Dietrichson
11:27 on
24 June, 2015
Monaghan 1900 – you said:
“Of particular amusement, James, is that they do not realise that where a contract of loan does not specify a repayment date, the loan is repayable on demand.”
If that’s the case, why did MA call an EGM to get the loan repaid?
——
He could have gone straight to court to obtain decree against them. If he had done this without first asking for repayment, he may have been held liable for the expenses of the action. By calling an EGM he costs them money and has a very public refusal to pay back the loan, thus entitling him to sue for it and get expenses upon success.
NatKnow
I just hope I can get them all rounded up….before the Anarchist Clown Army finds out.
They will flan them to death…thus cheating us of the spectacle of the guillotine:)
Anonymous wont be too happy either.
HH
South of Tunis
Capello won’t be sacked today. People who signed contract extension with Capello agreed penalty 20 millon usd for earlier
You all wanted a star signing…………and what a star he is
Wee Jay Beatty signs on for Celtic FC Foundation
By: Newsroom Staff on 24 Jun, 2015 11:01
IT was all smiles in the Celtic Park boardroom as Jay Beatty signed on to be an official ambassador for Celtic FC Foundation for season 2015/16.
Wee Jay has become a firm favourite with the Hoops faithful ever since former Celt Georgios Samaras spontaneously embraced him pitch-side on trophy day of last year.
The Lurgan Bhoy has experienced first-hand Celtic FC Foundation’s growing Ability Counts programme and joined participants as a team mascot for last December’s SPFL home encounter with St Mirren.
In partnership with Down’s Syndrome Scotland, Celtic FC Foundation’s Ability Counts programme features weekly football coaching and dance elements designed to foster and promote inclusion, diversity and friendship between the children involved through a common goal and interest.
Celtic FC Foundation’s priority is to focus on the four key themes of improving health, promoting equality, encouraging learning and tackling poverty and we have a strong track record of delivering successful community-based projects.
In his role as official ambassador, Wee Jay will focus on promoting Celtic FC Foundation’s equality strand as well as acting as a champion and representative for children and young people with disabilities.
On his appointment as official ambassador, 11-year-old Jay Beatty, said: “It’s going to be brilliant. I am going to work hard for the Foundation because I love Celtic.I’m going to make sure that I do all the Celtic fans proud.”
It is hoped Jay’s exuberance and enthusiasm will encourage participation and interest towards Celtic FC Foundation’s grass roots disability sports projects.
Additionally, Jay will act as a voice for Celtic FC Foundation’s fundraising campaigns as well as attending key events throughout the season including our annual Sporting Dinner and Celtic FC’s Player of the Year Awards ceremony.
Celtic Chief Executive Peter Lawwell said: “The wonderful affinity between Jay and the Celtic support has been one of the truly inspiring stories of this season.
“I am sure he will be a wonderful ambassador for Celtic FC Foundation. I know everyone at the Club – and I am sure all our supporters – would like to wish him all the very best.”
Celtic FC Foundation Chief Executive, Tony Hamilton, added: “Jay is one of many children with Down’s Syndrome or other disabilities who we want to help through our programmes such as Ability Counts and Inspiring Sport.
“I am delighted that he has signed on for the Foundation. He is a real inspiration to us and many other people and I’m looking forward to him joining our team for season 2015/16.”
Wee Jay’s dad, Martin Beatty, said: “Today is a very proud and emotional day for our family and we are honoured and humbled that Jay is an ambassador for Celtic FC Foundation. He really is a special Bhoy for a special club.”
DONTBRATTBAKKINANGER
Four notes? I didn’t think his wallet extended to that either…
Ger57,
That sounded too close to what an economist might try and say
Go on Wee Jay
What a Bhoy
HH
Stupid phone.
I meant 20 m usd for earlier termination. They would be responsible for finding that money and pay to Capello.
LIONROARS67
Smashing…
Auldheid if you are about………………We due something on Res 12 about now please?
Canamaler
Its like a burglar economist explaining to you, that he hasn’t really nicked your stuff at all, its just that you don’t understand how economics work.
HH
BOBBY MURDOCH’S CURLED-UP WINKLEPICKERS
11:47 on
24 June, 2015
LIONROARS67
Smashing…
Agreed…..get hankies at the ready reading the comments from Jay and his family
I liked the way the Romanians got rid of there ruling party.
Quick and no fuss.
Smashin’!
Glastonbury. Hope it rains.
Huns. They traditionally have a problem with black artists.
The BBC squander millions on it so that their staff can have a jolly. I would rather see more of that wee cockney guy Dominic.
lionroars67
11:37 on 24 June, 2015
For me the interesting bit is that the SNP regard the suggestion that they might be responsible for a cut in income of the monarchy as a scare story.
Hence their speed in rebutting it.
there = their
Quantative easing……………………what a scam THAT is.
Theft, pure and simple.