Confronted by a second trillion-pound bank bailout in less than 10 years, it will be impossible for the City and wider banking system to resist reform. The popular revolt against bankers, their current business model in which neglect of the real economy is embedded and the scale of their bonuses – all to be underwritten by bailouts from taxpayers – will become irresistible. The consequent rebalancing of the British economy, already underway, will intensify. Britain, in thrall to finance since 1945, will break free – spearheading a second Industrial Revolution.
The popular revolt against bankers... will become irresistible. 20 predictions from The Observer
