A missed opportunity

"sans-serif";color:black\"">I don’t want to be too Cassandra-like about a scheme that has good intentions but experience makes it difficult to be anything else. What I do know – and I suspect most of us are finally twigging the same – is that it’s going to be a long haul back to the good times. Events in Cyprus are a fresh and worrying illustration of what happens when societies insist on living beyond their means. We in the UK have no cause to be smug. With our National Debt forecast to reach 100 percent of GDP by 2016-17 (that’s a trifling £1.6 trillion by the way) that mattress may begin to look a lot more attractive to British savers in the future.

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