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Top economist: prepare for Grexit
It is sensible to make contingencies to insulate the UK from any Eurozone breakup, the Bank of England’s chief economist Spencer Dale said yesterday, stressing the importance of fostering the gradual economic recovery which he believes is now underway. “The Eurozone is our largest trading partner, and there are strong financial links,” he explained to BBC Radio Scotland. The monetary policy committee member also said that there are “signs of light at the end of the tunnel”, and although businesses working in areas such as construction and consumer-facing sectors are seeing difficulties, the oil and gas industry as well as those exporting heavily are growing more.