"The end of the euro in its current form is certain but will be traumatic, " predicted the CEBR's Douglas McWilliams.

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Douglas McWilliams, chief executive of the Centre for Economics and Business Research, says that today's 20-year-olds will have to work until they are aged at least 75.

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"Ten years ago, I said that Scotland was on the way to becoming a Third World economy in 50 years, " writes founder and chief executive Douglas McWilliams.

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"First of all, because business is pretty slack at the moment, and there is not much point going in and bashing your head against a brick wall, " explained CEBR chief executive Douglas McWilliams.

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