Omnishambles and bitcoin make it into Oxford Dictionaries online

WORDSMITHS in the Square Mile will be pleased today, as Oxford University Press (OUP) has announced the latest additions to its online dictionaries.

The Capitalist enjoys seeing City lingo making it into everyday lexicon – and the new round of entries includes plenty of financial vernacular.

OUP’s 2012 Word of the Year omnishambles – “a situation that has been comprehensively mismanaged, characterised by a string of blunders and miscalculations” – was a shoe-in.

But also making it into the dictionary are digital detox (a period of time during which a person refrains from using electronic devices), bitcoin (the digital currency pleasing investors and flummoxing regulators) and cramdown, which is defined as a restructuring of debt that creditors are required to accept as part of a bankruptcy arrangement.

And finally one that many busy City workers will already be familiar with – click-and-collect. If you didn’t already know it is: “A shopping facility whereby a customer can order goods from a website and collect them from a local branch.”