Now that's a blog headline you might not have expected on the Jubilee Centre website (and particularly from me as someone pretty disinterested in football).

I'm not commenting on the dismissal of Luiz Felipe Scolari as Chelsea Football Club's manager or the short term appointment of Guus Hiddink as replacement. However, today it was announced that Roman Abramovich has converted over half of his interest free loan to the club into equity. As if lending the club £709.7 million wasn't a sign of commitment, the fact that the loan is interest free and that £369.9 million has now been turned into shares is a great example of biblical principles of finance in operation.

Admittedly, the likelihood that he's doing it because of pressure from the football authorities spoils it somewhat, but if all loans were interest free to people we knew and we shared the risk of shares in business ventures we knew we wanted to support then we wouldn't have a credit crunch.

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