WITHIN Parkhead the powers-that-be may feel there is not much work needing done in this transfer window, gazing across Glasgow and witnessing an implosion that could suggest Rangers are doing it for them.

That would be a dangerous strategy, should Celtic indeed adopt it and feel that they are happy with their own lot, and that tinkering is not required in pursuit of four-in-a-row and the domestic cups.

Undoubtedly, those of a green and white persuasion will be rubbing their hands at the events of the past week, which saw their great rivals' financial ills laid bare for the world to see.

That is the law in the Old Firm jungle. There was little sympathy on show, with Sir David Murray at the forefront, as Rangers revelled in Parkhead mis-management, penny- pinching and lack of direction that saw them lurch this way and that through the late 80s until the arrival of Fergus McCann in the 90s.

Celtic are on a completely different financial footing from their city neighbours, with debts in the low single figures. There is no need to sell in this window - although the reaction to a mega-bid for someone would be interesting - and in what is now a 17-game shoot-out for the crown they are rightly favourites to retain another championship.

Within the Old Firm, there is always an eye kept on the other's movements, sometimes too much from those in control who appear a bit obsessed by the other.

So, as Rangers have their own version of Big Brother - basically who is going to be first for eviction from the Ibrox house - their cash-flow woes will be music to the ears of Peter Lawwell, John Reid et al.

Such has been the furore caused by the decision to accept an offer for Kris Boyd, and the fact that his subsequent rejection of a move to Birmingham which means ANO still has to be punted to allow Murray to loosen his collar, even Celtic fans are caught up in it.

Maybe to the extent that they are overlooking their own issues? Time will tell. But the Parkhead power-brokers should be boxing clever here, sensing that, as their rivals get ready to weaken their hand, a couple of clever acquisitions to Gordon Strachan's deck would most probably guarantee the title, another Champions League jackpot and leave Rangers entrenched in this vicious circle of having to walk a piano wire in terms of securing European revenue next term.

Having watched Celtic toil against Dundee, they are far from impressive. Take away the outstanding Scott Brown and one or two others, and there are a few players struggling for form and fitness, and positions that clearly need addressed - most notably the out-of-shape and hapless Artur Boruc.

A right-back for starters, a left-back as well and certainly someone to bring an extra dimension up front. Strachan is acutely aware of these problems, but will he be backed by his board?

When Carlos Cuellar was sold off the back of Rangers' European exit there were claims that Celtic were quite happy to slow down their own transfer missions, a school of thought that they didn't need to do much more as Walter Smith's squad was falling apart.

Rangers, of course, spent cash then on Pedro Mendes, Steven Davis and Mo Edu and promptly beat Celtic 4-2 on their own patch at the end of August to set alarm bells ringing.

Much has happened since then, including an impressive reaction from the champions and a redressing of the balance with an Ibrox win last month.

But to think the loss of one, maybe two, big names from the Rangers team guarantees glory again is dangerous. Celtic need to look after themselves. They have the power right now to keep Rangers firmly under their boot. Will they choose to use it?