Sunday, 15 November 2009

The end of Empire

Are you ready? Are you really ready for the fall? By which I mean are you ready for the real rollercoaster ride to begin?

Because if this comes to pass, then the industry underpinning our house-of-cards service-based economy will collapse.

No ifs, no buts. Without financial services, we are a third world economy. And with significant legislation put in place to inhibit their practices, they will abandon the UK in droves.

Which will be an interesting exercise, because when we do fall and we become a net drain on the E.U. as opposed to a net contributor, will the E.U. prop us up to the tune of say Greece, or the new accession countries?

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