Daily Gazette
17 TH D ECEMBER , 2020
I NFLATION REACHES RECORD HIGH
Inflation rates reached a
record high of 17.5% last
month, despite the promis-
es that the euro would
solve all our problems.
This is another problem in
a long list, stemming from
the global recession in
2010. The national debt of
£4.8trillion seems compar-
atively conservative com-
pared to our current levels
N O OIL RESERVES FOUND FOR 10 MONTHS
“Don‟t worry,” they said.
“There‟s at least enough oil
to take us to 2041!” A
problem for another gener-
ation, we thought. A quar-
ter of a century is plenty of
time to figure it out, we‟ve
got time. What they didn‟t
tell us of course, is that
the huge emerging econo-
P RICE €1.60
of €14.5trillion. A debt of
this level means that we
are paying annual interest
rates of €150million. And
that‟s not paying off the
debt, that‟s simply paying
the interest. In comparative
terms, it equals a yearly
2.3million per person in
the UK. Essentially, we‟re
borrowing money from
out children‟s children.
mies of India and China
would deplete our re-
sources exponentially.
That because it would hurt
them financially, countries
frequently lied about how
much oil they had in re-
serve. But the truth is,
we‟re all to blame. Sure,
the politicians lied, but can
Many people in the UK
have turned to cost saving
measures to avoid the crip-
pling credit crunch. One
example of this is
„staycations‟ or „glamping‟,
- which means of course
we can see more of our
country such as Edinburgh
Castle (above). Tickets €40
for a family of two adults,
and two children. Enjoy!
we honestly say we‟re not
worse for believing them?
We all buried our head in
the sand. But all is not lost:
car sharing saved commut-
ers an estimated 875m this
year. Perhaps that‟s the
way— if we return to
community, we‟ll be ok.
Together.
S PECIAL POIN TS OF
INTEREST :
 “I still take one long-haul
journey a year.” - Michael
O’Leary. Selfish? Or
justified? You decide
on page 10.
 Breakthrough on alterna-
tive oil? Glen Kurtz
thinks so: “6 months and
our algae oil will be on
the market” Read the
full story on page 18.
 “I think having a child is
a right, not a privilege.”
Why is the birth rate
riding in this climate?
Anastacia de Waal has
the answer on page 32.
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