So said El Gordo.
Britain is likely to suffer more from the economic downturn than any other major country, Alistair Darling has warned. The Chancellor cited London\’s status as a major financial services centre as a reason why the country could be worse affected than others, when asked by Tory MP Adam Afriyie (Windsor) in the Commons why the European Commission and the IMF were predicting the UK would be the hardest hit in the developed world. He said: "We were bound to be affected more substantially in relation to the loss of revenues we are now experiencing because of the lack of profitability in the financial services sector. "London is the major financial services sector of the world. Of course we are likely to be more severely affected as a result of the profitability being reduced and I\’ve made that point on many occasions.
Ah, right, yes, it would be fairly obvious that the place which specialises in finance would be hurt more by a financial crisis, wouldn\’t it?
So what was El Gordo talking about?