So its almost been five years. Five years since the world woke up to a nightmare and the largest banks looked at their balance sheets in horror. Five years since banks started to hesitate to lend to each other and the global financial system finally started to crack at the seams.
No one saw it coming. It took the fall of the Lehman Brother's and a recession a year later to realize it. But what I didn't see coming was how Great Britain still has not come out of it mid-2012. The Bank of England has said that for the next few years, Britain's recovery will be average at best.
The Governor of the Bank of England said seven lean years. But by the way things have been going, it is not unreasonable to assume that we've passed the halfway mark. But the estimation did not take into account the Eurocrisis, or the large gap in Britain's public funds. At this rate, The Bank of England hopes Britain will be back to pre-recession level in two years time. But it will be much longer before the country gets back to where it should be.
The Chancellor should ask himself if there is anything he can do to speed up the process. Who would've thought it would be easier to win 22 gold medals at the olympics than a small bit of economic growth?
No one saw it coming. It took the fall of the Lehman Brother's and a recession a year later to realize it. But what I didn't see coming was how Great Britain still has not come out of it mid-2012. The Bank of England has said that for the next few years, Britain's recovery will be average at best.
The Governor of the Bank of England said seven lean years. But by the way things have been going, it is not unreasonable to assume that we've passed the halfway mark. But the estimation did not take into account the Eurocrisis, or the large gap in Britain's public funds. At this rate, The Bank of England hopes Britain will be back to pre-recession level in two years time. But it will be much longer before the country gets back to where it should be.
The Chancellor should ask himself if there is anything he can do to speed up the process. Who would've thought it would be easier to win 22 gold medals at the olympics than a small bit of economic growth?
Good point. A lot of recession is going on around the country. Did you see the major layoffs by google.
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