Quote:
Originally Posted by Vendot
Youll find that our position on the list of largest economies will fall over the next few years. Our economy is adjusting to massive leverage and debt issues and that adjustment is causing serious pain...... the meagre 3% growth we had was funded by debt.
As for being a major player in the world of finance, that has come to an abrupt end... it will take a very long time to restore confidence.
http://www.hindu.com/2008/10/13/stor...1352781400.htm
As for being a world power, well I think the UK will always retain a strong position in the overall hierarchy but I doubt being a nuclear power has much to do with that. |
i only read the first few lines of that article as i'm just off out, but i would certainly feel safer putting my money in a uk bank than a botswanian bank, which they suggested was safer.