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Britain is in the depths of an economic depression, Archbishop warns

The Most Rev Justin Welby, a former City oil trader, called for a radical overhaul of the financial system including the break-up of at least one major state controlled bank and a return to smaller, regional banks, curbing the dominance of London. He also called for banking itself to be turned into a proper profession with its own set of professional standards rather than being “something that people drift into”.