Europe's super clubs are a bit like banks. They may be even less responsible with money but they certainly buy into the concept of being 'Too big to fail'.
In the world of economics, the idea is that certain banks should not be allowed to go under, no matter how badly they are run. As we saw during the recession, some governments decided to intervene when banks left themselves on the verge of bankruptcy, offering financial support in order to ensure that they could continue trading.
One could understand the governments' thinking, to a certain degree at least. It was essentially deemed the lesser of two evils. While the banks only had themselves to blame for their perilous positions due to gross mismanagement, their collective collapse would arguably made a dire situation even worse for the average person, creating economic chaos.
However, there are several problems with adopting the 'TBTF' approach. For starters, as former Federal Reserve Chair Ben Bernanke pointed out, "Too-big-to-fail (TBTF) firms will tend to take more risk than desirable, in the expectation that they will receive assistance if their bets go bad."
Which brings us nicely onto FC Barcelona, the ultimate example of Europe's 'super-clubs' and their staggering sense of entitlement.
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