Worries about eurozone debt, public sector cuts and expectations of a prolonged phase of low growth and weak deal activity – so similar is the picture emerging from this year’s top 50 results, it was tempting to run last year’s leader and hope no-one noticed.
As horribly jargonistic as it sounds, you can see why the term ‘the New Normal’ has been loitering around like an unrealised write-off on a toxic CDO. If this New Normal isn’t going anywhere soon, the sustained buffeting of this hard-growth environment is beginning to take its toll on a number of law firms.
