Arsene Wenger may be a poor loser who has conjured some improbable comments in the wake of defeats, a man with an apparent inability to see many of the events on the pitch and a manager who has been reluctant to accept and address the shortcomings of his teams, but he is essentially a rationalist in an irrational environment.
The Frenchman recognises the absurdities and the hyperbole of Premier League football. In one respect, his analysis of the apocalyptic scenario of Tottenham Hotspur finishing above Arsenal was magnificently rational.
“In 20 years it’s happened once,” he said after Sunday’s 2-0 defeat at White Hart Lane ensured St Totteringham’s Day will not be on the calendar in 2017. “Mathematically it has to happen once,” Wenger added. The law of averages dictates as much. Sooner or later, it would transpire.
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Read more
■ Team of the week: Prolific Dele Alli on fire for Spurs
■ Richard Jolly: Antonio Conte's crowning glory is near for Chelsea
■ Greg Lea: Chelsea result does not hinder Tottenham's resolve in win over Arsenal
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Yet Arsenal’s concern should not be how often it has happened, but how often it will. It is easy to assume an individual occurrence has a permanence – it is another part of English football’s capacity to exaggerate anything – and gloomy predictions can pervade in the wake of a loss.
But it also feels there has been a decisive shift in the balance of power in North London. Tottenham have not merely taken Arsenal’s place in the top four. It seems as though they have appropriated their identity. As Arsenal’s standards have slipped, Spurs have accelerated beyond them using methods all too familiar to Wenger.
Youth was once Arsenal’s calling card. Now Spurs have the Premier League’s youngest team. Wenger was the bargain hunter supreme. Now Dele Alli, the £5 million (Dh24m) buy turned 21-goal midfielder and double PFA Young Player of the Year, looks arguably the decade’s outstanding piece of business.
Arsenal aimed to build around a British core, given its defining image when Aaron Ramsey, Alex Oxlade-Chamberlain, Jack Wilshere, Kieran Gibbs and Carl Jenkinson all signed new contracts in December 2012. Only Oxlade-Chamberlain has offered any real grounds for optimism this season whereas the Tottenham group who committed to new deals, such as Alli, Harry Kane, Danny Rose and Kyle Walker, are more coherent, more dynamic and more potent.
Footballers are improving at White Hart Lane. They used to at the Emirates Stadium. In the same way, whereas many clubs, Tottenham foremost among them, seemed to spend years searching for their version of Wenger, now Mauricio Pochettino is the coveted manager. Players evidently want to play for the Argentine and if Arsenal’s current collective say their loyalties lie with Wenger, their performances have provided too few eloquent affirmations.
Arsenal long stood for the future, a future that has never really arrived but which meant they invariably carried the promise of a better tomorrow. Now Spurs do and if they are yet to turn talent into trophies, neither did Wenger’s Arsenal in a nine-year drought.
The scale of the role reversal was highlighted when Arsenal’s record scorer Thierry Henry suggested Alexis Sanchez would be the lone Arsenal player in a combined North London XI. Rewind a few months, to when Arsenal were on a 19-game unbeaten run, and the verdict may have been very different, but go back to various periods in the past two decades and one Tottenham player would have been isolated in a joint team.
Arsenal’s dominance used to be entrenched on micro and macro levels. Wenger was not overhauled by Tottenham in the table or overcome in meetings. He only lost seven of his first 49 derbies. Yet Sunday’s was his 50th. It means Pochettino’s Tottenham have still not lost a league game to Arsenal.
A Tottenham win, even at White Hart Lane, would once have been a shock. Now it felt predictable. It was another indication of the mood swing. While Tottenham face the question if, like Arsenal before them, they can make top-four finishes annual events and kick on to win the title, the worry for Arsenal must be that they become like the Spurs of old, trapped outside the Uefa Champions League places, forever looking on enviously.
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Will the pound fall to parity with the dollar?
The idea of pound parity now seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.
Rupert Harrison, a fund manager at BlackRock, sees the risk of it falling to trade level with the dollar on a no-deal Brexit. The view echoes Morgan Stanley’s recent forecast that the currency can plunge toward $1 (Dh3.67) on such an outcome. That isn’t the majority view yet – a Bloomberg survey this month estimated the pound will slide to $1.10 should the UK exit the bloc without an agreement.
New Prime Minister Boris Johnson has repeatedly said that Britain will leave the EU on the October 31 deadline with or without an agreement, fuelling concern the nation is headed for a disorderly departure and fanning pessimism toward the pound. Sterling has fallen more than 7 per cent in the past three months, the worst performance among major developed-market currencies.
“The pound is at a much lower level now but I still think a no-deal exit would lead to significant volatility and we could be testing parity on a really bad outcome,” said Mr Harrison, who manages more than $10 billion in assets at BlackRock. “We will see this game of chicken continue through August and that’s likely negative for sterling,” he said about the deadlocked Brexit talks.
The pound fell 0.8 per cent to $1.2033 on Friday, its weakest closing level since the 1980s, after a report on the second quarter showed the UK economy shrank for the first time in six years. The data means it is likely the Bank of England will cut interest rates, according to Mizuho Bank.
The BOE said in November that the currency could fall even below $1 in an analysis on possible worst-case Brexit scenarios. Options-based calculations showed around a 6.4 per cent chance of pound-dollar parity in the next one year, markedly higher than 0.2 per cent in early March when prospects of a no-deal outcome were seemingly off the table.
Bloomberg
MATCH INFO
Uefa Champions League, last 16, first leg
Ajax v Real Madrid, midnight (Thursday), BeIN Sports
The Melbourne Mercer Global Pension Index
The Melbourne Mercer Global Pension Index
Mazen Abukhater, principal and actuary at global consultancy Mercer, Middle East, says the company’s Melbourne Mercer Global Pension Index - which benchmarks 34 pension schemes across the globe to assess their adequacy, sustainability and integrity - included Saudi Arabia for the first time this year to offer a glimpse into the region.
The index highlighted fundamental issues for all 34 countries, such as a rapid ageing population and a low growth / low interest environment putting pressure on expected returns. It also highlighted the increasing popularity around the world of defined contribution schemes.
“Average life expectancy has been increasing by about three years every 10 years. Someone born in 1947 is expected to live until 85 whereas someone born in 2007 is expected to live to 103,” Mr Abukhater told the Mena Pensions Conference.
“Are our systems equipped to handle these kind of life expectancies in the future? If so many people retire at 60, they are going to be in retirement for 43 years – so we need to adapt our retirement age to our changing life expectancy.”
Saudi Arabia came in the middle of Mercer’s ranking with a score of 58.9. The report said the country's index could be raised by improving the minimum level of support for the poorest aged individuals and increasing the labour force participation rate at older ages as life expectancies rise.
Mr Abukhater said the challenges of an ageing population, increased life expectancy and some individuals relying solely on their government for financial support in their retirement years will put the system under strain.
“To relieve that pressure, governments need to consider whether it is time to switch to a defined contribution scheme so that individuals can supplement their own future with the help of government support,” he said.
PAST 10 BRITISH GRAND PRIX WINNERS
2016 - Lewis Hamilton (Mercedes-GP)
2015 - Lewis Hamilton (Mercedes-GP)
2014 - Lewis Hamilton (Mercedes-GP)
2013 - Nico Rosberg (Mercedes-GP)
2012 - Mark Webber (Red Bull Racing)
2011 - Fernando Alonso (Ferrari)
2010 - Mark Webber (Red Bull Racing)
2009 - Sebastian Vettel (Red Bull Racing)
2008 - Lewis Hamilton (McLaren)
2007 - Kimi Raikkonen (Ferrari)
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Empire of Enchantment: The Story of Indian Magic
John Zubrzycki, Hurst Publishers
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
The years Ramadan fell in May
F1 drivers' standings
1. Lewis Hamilton, Mercedes 281
2. Sebastian Vettel, Ferrari 247
3. Valtteri Bottas, Mercedes 222
4. Daniel Ricciardo, Red Bull 177
5. Kimi Raikkonen, Ferrari 138
6. Max Verstappen, Red Bull 93
7. Sergio Perez, Force India 86
8. Esteban Ocon, Force India 56
BUNDESLIGA FIXTURES
Friday (UAE kick-off times)
Cologne v Hoffenheim (11.30pm)
Saturday
Hertha Berlin v RB Leipzig (6.30pm)
Schalke v Fortuna Dusseldof (6.30pm)
Mainz v Union Berlin (6.30pm)
Paderborn v Augsburg (6.30pm)
Bayern Munich v Borussia Dortmund (9.30pm)
Sunday
Borussia Monchengladbach v Werder Bremen (4.30pm)
Wolfsburg v Bayer Leverkusen (6.30pm)
SC Freiburg v Eintracht Frankfurt (9on)
RESULT
Bournemouth 0 Southampton 3 (Djenepo (37', Redmond 45' 1, 59')
Man of the match Nathan Redmond (Southampton)
Normal People
Sally Rooney, Faber & Faber
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Without Remorse
Directed by: Stefano Sollima
Starring: Michael B Jordan
4/5
Two products to make at home
Toilet cleaner
1 cup baking soda
1 cup castile soap
10-20 drops of lemon essential oil (or another oil of your choice)
Method:
1. Mix the baking soda and castile soap until you get a nice consistency.
2. Add the essential oil to the mix.
Air Freshener
100ml water
5 drops of the essential oil of your choice (note: lavender is a nice one for this)
Method:
1. Add water and oil to spray bottle to store.
2. Shake well before use.
THE BIO
Favourite author - Paulo Coelho
Favourite holiday destination - Cuba
New York Times or Jordan Times? NYT is a school and JT was my practice field
Role model - My Grandfather
Dream interviewee - Che Guevara