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Page last updated at 08:41 GMT, Friday, 26 August 2011 09:41 UK

'We'll all be a lot poorer' after euro crisis

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The economist Terry Smith, chief executive of city broker Tullett Prebon, has said that "conventional methods" of dealing with the financial crisis in the eurozone will not work.

Speaking on the Today programme, he said that people had to accept that we are "all going to be quite a lot poorer".

"In the end there is no one other than us collectively... it all comes back to us."


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