It’s now more or less a given, that people in ‘public life’ are subject to much lower standards than the rest of us. Even the pretence is now hard to keep up. Governments regularly overspend two, three four times ahead of the original projections when the boondoggle was grandly announced, think of the Scottish Parliament building, the millennium dome, the Olympics, more or less anything else you can think of, http://www.telegraph.co.uk/news/uknews/law-and-order/3741148/Previous-Government-building-overspends.html
No-one (outside the infantry perhaps) is fired, and the careers move on wholly untroubled by glaring failures on the CV http://www.telegraph.co.uk/news/politics/9097782/Former-UK-Border-Agency-boss-promoted-to-head-of-HMRC.html
But it is nonetheless incumbent on the rest of us to continue to expose hideous failure and recklessly ill-considered plans, as well as showing pitiful excuses for what they are http://www.bbc.co.uk/news/uk-politics-18383804 Yes, George, its someone else’s fault, nothing to do with me Guv.
So with that in mind, you might hope that the mainstream media might do at least a half-competent job of reporting the latest move in Europe’s slow-motion suicide that is more bailouts. Sadly this proved to be a triumph of hope over expectation as the coverage was dismal, superficial and more or less an annoyance in the way of the sports coverage.
I refer of course to the almost surreal news that after denial after denial, Spain has now rattled the national begging bowl in the faces of the Eurozone countries with a kind of “Will work for a hundred billion Euros” sign. Apparently, the money will be going to ‘some’ Spanish banks.
So let us consider some of the tiny problems with this. First the terms of the loan that has been agreed have not been announced (or at least reported). You might think that the duration of the loans, the pay-back triggers, the interest rates payable (though apparently it’s a ‘favourable’ rate), whether the loan is in anyway collateralised, who is getting the money (rather important to your chances of ever being repaid), whether the money will be given to people who made political donations in expectation of further kickbacks (surely worth investigating), might all be worth reporting or indeed, agreeing before you put your national taxpayers on the hook for dumb Spanish bankers. Then there is the question of exactly where the cash will come from? Eurozone countries apparently, but I presume Greece, Italy, Portugal, Ireland won’t be able to contribute, since they have troubles of their own and the smaller Eurozone nations won’t be able to make more than a token gesture. Now the UK is not part of the Eurozone so I would guess we are off the hook on this one, unless there is some god-awful treaty obligation, and George was photographed making his constipated/serious face which may suggest we are about to pony up, (perhaps kitty counters can help me here).
This is another epic disaster of the first magnitude and do you think even one of ‘em will lose their jobs or suffer in anyway?
This may get very, very ugly indeed.