In 1992 Billy Connolly was a superstar coming home when he returned to Glasgow for a 25th anniversary concert at the city’s Royal Concert Hall. For younger readers somehow unfamiliar with his work, Connolly was the working class comedian from Glasgow who in the 1970s and 1980s invented modern British stand-up, becoming in his own self-mocking terms “the darling of the chat shows”.
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The wiping out of the holders of Credit Suisse’s AT1 is to bond markets as seismic an event as the recent earthquake in Syria and Turkey was to its people.
Instead of trying to claim that everything is splendid, the Conservatives should immediately concede that many aspects of public life aren’t working well – and that government does not have all the answers.
Everyone in Westminster and the City is waiting nervously to see if we’re going to tumble into another banking crisis.
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