Bank of England Head Sees Long-Term Effects from Recession

Well, that's a cheery thought

Children will 'live under the shadow' of Britain and the rest of the world's economic crisis 'for a long time to come', the Bank of England governor warned last night.

Sir Mervyn King recalled the 'memorable' sound of a choir of Welsh children between the age of nine and 13 at the Olympics opening ceremony singing Cwm Rhondda.

He said one of the biggest challenges of his job is to give these singers and other children 'the opportunities to make the best possible use of their talents in a vibrant economy.'