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by James Robertson.
Original Post: Scary News
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Every time I think the economic news can't get worse, I find out I'm wrong. This morning, I stumbled on this report out of London:
Is Britain simply a bigger version of Iceland? Certainly the City of London is starting to look a bit too much like Reykjavik, but with taller buildings and fewer cod. It is an exaggeration, but not that much of an exaggeration, to liken the UK to the broken, bankrupt North Atlantic island.