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Philip Coggan: Getting back to normality
What is the best way to reduce the debt mountain without prlonging recession?
In other words, while Britons may be about to rediscover the joys of savings, this may not turn out to be a bonanza for the financial services industry. Just think about Japan, where the bursting of the bubble prompted savers to keep the bulk of their funds in low-interest deposit accounts for the last 20 years.
Philip Coggan is Buttonwood columnist for The Economist
