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  I have not praised the German Banks Marek and dont particularly hold them in any esteem. Most developed countries are coming out of recession earlier and faster than the UK. It remains true that most developed countries did not suffer the same degree of banking problems as we did and British Bank lending overseas has been a massive factor in those problems they have had. Some OECD figures showed that British Banks lent to American citizens alone an amount the equivilent to 10% of Americas GDP - a massive figure, since 1997. Worldwide lending by British Banks is huge. The British Banking failure has had repercussions way outside the UK.
  
  Howard - the difference is that unemployment was coming down in 1995 and now it is on the rise, whats more there was no economic crisis but instead a 'golden legacy' in 1997 when Labour gained power.
  
  Dave - there are some big differences indeed. Most jobs are going to immigrants and most new jobs have been in the public sector with employment in the private sctor shrinking as a proportion of the workforce since 1997. This is a totaly unsustainable model. We need employment growth in the private sector creating wealth not absorbing it.

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