can be fatal….as the Greeks are finding out.
It is a sign of how cossetted we in the West are that the news of Greeks unable to get medication sends shock waves through the whole EU – and revulsion. My initial responses on reading this story were first, ‘I’m amazed it’s taken this long’, and second, ‘It’s a pharmco, what on earth do you expect?’ My third – after a few hours reflection – was that I understood the revulsion: but the sanctimonious ‘how dare theys’ that flew in all directions through both the blogosphere and other media were just more evidence that blaming others is an effective methadone when you’re not taking responsibility any more.
Here we have a nation that lied its way into a privileged trading group, conspired with sovereign lenders to hide debts (having spent the group’s money unwisely) and then started torching cars when the Germans balked at the idea of writing off their debts indefinitely. And this is the nation getting on a very high donkey now about a drug company wanting to be paid, the bastards.
What seems to have passed the Left’s rentagobs by is that the Athens Government already owes Novo Nordisk £25 million – at a time when most wise commentators are gradually accepting that Greece will default on its debts in the end. OK, so they’re a drug company: I hate drug companies – SKB made my life a misery for seven months by withdrawing a product without notice because it wasn’t making enough money for their shareholders. But whether they’re selling badger-gassing equipment or aspirin they deserve to be paid.
Novo Nordisk stand three fifths of no chance of getting paid now, so they’ve pulled the plug at £25 million. I can think of a thousand institutions currently being licked all over by Papandreou and his mates who wouldn’t dream of writing off that high a percentage of their total profit. One is left falling back on that old command, cliche or not: get real….the reality check is going to be followed by the reality cheque. Which bit of this is surprising you?
Novo Nordisk haven’t handled the move well. In their shoes, I’d have pleaded with the ECB first – they do after all have a very strong moral case – and then said, “Don’t blame us, blame your trading partners”. But it’s the same with all forms of dependence, be they trainers, lagers, heroin, welfare, child allowances or credit: take it away and there will be screams of outrage. As Rab C Nesbitt remarks in one episode of the Scottish horror comedy, “Jeez, it’s hard work bein’ a layabout these days”.
However, the longer-term reality spelt out by Novo Nordisk is that we can take nothing for granted any more. Governments buy drugs, IT services, construction, security, and even energy from the private sector. The rule from here forwards is going to be ‘No pay, no way’.
Across large parts of Asia, South America, Russia and Africa, diabetes will kill you because there just isn’t any insulin, and there never was. In that context, drug companies don’t look good – and nor do the corrupt leaders of the countries concerned. But fat European countries with a spending habit moaning because nobody will give them more licence to cheat….well, that’s rather further beyond the pale.





