It has become fashionable to think of the City as far too big and powerful for the economy's own good. But in fact, periods of relative British prosperity have always gone hand in hand with a key position in international finance. At the height of Victorian empire, the City was even more powerful and influential than it is now. It’s only in the past 30 years that Britain has been able to begin to reverse the catastrophic period of decline that followed the loss of Empire.
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