Loans and Finance

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Thursday, January 29, 2009

UK Recession Worst in Developed World

The International Monetary Fund (IMF) presented a bleak forecast for the UK economy, predicting that it would shrink by 2.8% in 2009. This is more than the 2% average drop for developed nations in 2009.

Putting all our economic eggs in one financial basket (namely the financial services industry and City) appears to have been a blunder of colossal proportions.

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