Watch this short BBC video clip about how the economic crisis is forcing people to change their saving habits.
Fill in the blanks in the transcript below with the missing words.
For depositers the past four years have been tumultuous. Back in 2008 British savers could choose from (1) ... of banks and financial institutions from all over the world, but the financial crisis changed that. But many foreign banks (2) ... , especially from Ireland, America and Iceland. At the same time, the money earned for your savings crashed, as interest rates fell from almost 6% to their current (3) ... per cent. It led to millions of British savers out of pockets and worrying for the first time in generations about whether their money would be safe in a bank. And it looks as if that fear hasn’t disappeared. The Financial Services Compensation Scheme reckons that there is around 5.6 billion pounds under the proverbial (4) ... at home.
It’s only five years since we saw the first bankrupt in 150 years. The Bank of England is printing more money all the time, (5) ... billion pounds, which is abound to be to inflation. Maybe we could answer that. I’ve met some quite sane people who just don’t trust money any more, they think if the banks are going to keep printing it, we’ve got to find something else to store our (6) ... from.
Savers are also reminded that in the current high inflation environment, keeping our money in a (7) ... ... instead of a bank makes even less sense. And this, though, the number of people doing that was down on the same time last year.
Joe Lynam, BBC News.
Key:
1 dozens 2 folded 3 half of one 4 mattress 5 325 6 assets 7 assets
