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A banking crisis isn’t just bad for business, it can also poison politics

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theguardian.com

Financial crises are a really bad idea. We learned that in the UK with the 2008 banking crisis. It doubled our national debt and was followed by a decade of lost earnings growth.

But banks going under contributes to grim politics, too.That’s the lesson from some economic and political history contained in new Bank for International Settlements’ research.

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