Durham's issue arose because a loan was called in unexpectedly without notice- all counties,bar Surrey, have debtors and hence are subject to that risk.There is room to dispute “similar”. Durham were given an agreed budget. To that extent it was similar to the special measures Sussex are in. But that’s not all in Durham’s case. There was a significant cash bail out, and at least one of the operating companies was wound up and a new company formed. So far as I can tell neither of these things are happening with Sussex, or have happened in the other special measures cases.
I think Durham’s punishment was unduly harsh. But I still think you need to accept that Durham’s case was bad in ways that hasn’t been matched since.
They exceeded their budget some years previously,alerted ECB to it, and accepted the penalty imposed.
There have been significant bail outs to other counties.
Durham changed their company format as a condition of a loan from Durham County Council in the form of Preference Shares.
I have studied Durham's balance sheets for the period. The accounts were approved by the auditors with no undue risk or mismanagement flagged up.
I simply question that when you contradict opinions you offer some justification for it.If that causes offence,none was intended.eI justified the previous post about conspiracy by providing quotes, I don't have to justify everything to you and I say plenty of things similar to other posters or just general comments which are also fine you know exactly what you are doing I thought you were better than this.
I have the opinion everything isn't a conspiracy against Durham
Certainly don't want to descend into a slanging rmatch
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