The Decline of the American Economy

The decline of nations can be traced to slow almost imperceptable growth of inefficiency and disorganization in politican and

G8 to discuss world debt while Scots lack basic financial understanding.

Last week saw launch of Scotland’s Financial Inclusion Forum, and with it requests were issued for local authorities, banks, and other financial institutions, to work together to generate and share ideas to help people take control of their own finances. Those attending forum were asked to help ensure, “that poverty is not exacerbated by lack of access to financial services”.

Deputy community minister, Johann Lamont, said: "It is simply unacceptable that in Scotland there are areas where as many as one in five people have little or no experience of using basic financial services so many of us take for granted such as bank accounts and insurance.“ "I expect banks, local authorities, housing associations, community planning partners, credit unions and other key players to work together to provide access to bank accounts and affordable credit; to make saving possible and help people understand and manage their everyday finances and ensure that information and advice are available when people get into debt." The new initiative is intended to provide £10m in support over 2 years in an effort to help 10 local authorities with worst problems to overcome concerns that prevent as many as one in five people in some localities opening a bank account or buying insurance.