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Wednesday, December 8

Recession is set to deepen -

Bermuda Sun"Bermuda is facing a long and deepening recession that will see more jobs disappear and could see wages frozen or cut for staff in most professions.
Analysts predict it will be 2012 at the earliest before the gloom surrounding our economic fortunes lifts.

Economist Craig Simmons said Bermuda’s situation closely resembles that of Ireland, which had to be bailed out by fellow European Union members, resulting in wage cuts across the board to satisfy creditors."
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