More Grim News on UK Economy for 2010
In central London, the fate of one of the city's biggest book store chains echoes December's minutes of the monetary policy committee of the Bank of England. As Borders bookstore had its final closing sale - with literally everything for sale, from electrical plugs, to shelves and fittings - and the man from Starbucks sadly carried the company's logo sign from the in-store coffee shop, the Bank of England said it didn't believe the country would dig itself out of trouble in 2010.
The pace of the credit crunch - and the few good signs out there - were vulnerable to a wave of foreign financial troubles as the year unfolded. It also pointed out the country had to get away from relying on consumer spending and public sector spending to drive its economy, and instead turn to exports for wealth growth. But it saw no signs this was happening.