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Leading London economists predict that more than 500,000 jobs "will be slashed in Britain over the next three years," reported the London Telegraph on May 5. According to projections by ABN Amro bank, the British economy "'is set for a dramatic decline' and will 'remain depressed for several years.'"
ABN Amro's analysis is based on the reasonable assumption that "heavily-indebted consumers will stop spending, triggering job losses on the high street [retail sector] and construction industry." The ...