Estonia joins the Eurozone

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Continuing on reoccurring themes of economics, politics and icebergs. I would like to share the news
that Estonia, our USSR→EU friend, has adopted the euro. Huzzah! Anti-euro types have criticized this move, saying in a statement that "Estonia was getting the last ticket for the Titanic".

Recently, my boyfriend's parents told us about a vacationing American couple that they had met in a bar. By vacationing I mean they were planning to land in the UK but were diverted due to the weather. They were surprised that everyone here was so happy because they had heard how terrible the financial situation was. Irish people do love to have something to moan about and it was Christmas, the season of good cheer. When I told my boyfriend about our new shipmates he joked, "if Estonia bought the last ticket for the Titanic, Ireland must be the band that kept spirits up and continued to play as the ship sank!"

Scene from one of the older Titanic films. Image found here. Other image found here.

Bank of Ireland Announces Unethical New Fees

Despite my intentions to ignore the recession frenzy, more and more I am writing about this economic nastiness. The arts, of course are affected by this nastiness and really, I cannot imagine an area that isn't.

Drawing my attention (and seething anger) today is Bank of Ireland's announcement that it has decided to wrangle a few more coppers from its customers by imposing new fees on current account holders. As a loyal Bank of Ireland customer for about 20 years now having graduated into this sh*tstorm, I am excited to learn that these new fees will affect mostly the less well off customers. The fees will only affect those who cannot maintain a constant balance of €3000, those who deposit less than €1000 per month or those make fewer than nine payments by phone or online banking. Financial fashionistas will be glad to see that fees are very on-trend in that they are likely to affect mostly those who are on low income or unemployed. Perhaps BOI were inspired by the recent Budget cuts to social welfare cuts and reduction of the minimum wage.  All this from a bailed out bank. They have seemingly developed a taste for public money and unethical practice.

Understandably the bank is required to try and secure extra revenue, but this unethical move is telling of the socio-myopic mindset of those who make the decisions.

In the New Year I shall be looking for a new bank.

Till then, FU-BOI!

The Accountable, Bank of Ireland Art Auction

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On the 24th of this month 155 works from the Bank of Ireland art collection were put up for auction  by Adam's,  with a further 2000 pieces to be sold over the next few years This caused a bit of a stir with crowds protesting outside the venue. Indeed, anything involving a bank will attract controversy and this was no different with people protesting about the bank's government bailout and about the bank bailing out from the arts.

I remember feeling excited when I first learned of the bank's support of the arts, in both its art collection and with student awards. A bank having a positive influence seems like an alien idea now. BOI claims that the proceeds of the sale will go back into supporting the arts community. However, many have pointed out that many of the works sold have left the country with foreign buyers and that the sudden unloading of art into the market will lessen the value of the art works. It is hard to say if this is a bad thing or not. I think it is foolish to say that such a work would have been valued much higher 5 years ago. It reminds me of those who, for the last three years have been whingeing that their second property used to be worth half a million euro now it would not even sell for 100,000 euro. I feel like shouting "No it wasn't, it was never worth that much that was all make believe money. That nonsense is all over now, stop going on about it".  I would rather see more people buy smaller art that a select few buying glory pieces.  Of course we will have to wait and see what BOI will do with the it would be foolish to simply trust that they will honour their word. It seems that the auction went well with many pieces selling for much more than estimated.

John Coen, We the Accountable.

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Recently, I was talking to a business professor who's passion for art is the strongest I have seen in some time. He pointed out a piece being auctioned that had an incredible title. "We the Accountable" by John Coen sold for €5800.  I do not know what the artist's reasons for the title were, but I doubt he could have guessed that it would be so relevant today.



Images were obtained via google, please click on them for their sources. No copyright infringement intended.