What a blast! For over a month now the world has been gripped by Olympic fascination and excitement. A total of more than 14,000 Olympic athletes including 4,200 Paralympic athletes descended on London to give the performance of their lives. Spectators saw numerous records tumbling across the board and an atmosphere that truly inspired a generation of wannabe Olympians. I am proud of Team GB finishing third in the medal table winning the amazing total of 65 medals. And the UAE’s first gold medal in this year’s Paralympics is great cause for celebration. But now, as even the Paralympics draw to a close, what will happen when the flame dims?
The woes that have long cast shadows over the world economy remain. The UK is no different, with GDP contracting by 0.5 per cent in the quarter to June and early indicators for the third quarter suggesting a modest rebound. While this comes as an economic disappointment it doesn’t come as a surprise: we are all recovering from the worst economic crisis in living memory, and the UK is not immune to the problems in the Euro Area.
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