Between the lines: Recession history may be about to repeat itself

GRIM OECD predictions of a recession in Britain plus a moderately upbeat Bank of Scotland forecast of growth in the Scottish economy made perplexing reading this week.

Yesterday, my colleague Peter MacMahon suggested that Martin Ellis, the bank's chief economist, was being far too optimistic and that Scotland would surely slide into recession as well. Alex Salmond, the SNP First Minister, seemed to agree with MacMa...