DAVOS: Top investment bankers have added to the sense of gloom that is depressing world markets, with some saying a long war in Iraq would devastate the sector, leaving only a handful of global survivors.
Cuts that had seen 50% of staff disappear at some banks could slice deeper if fears of a prolonged equity market paralysis come to pass, said Claudio Aguirre, the chairman of European investment banking at Merrill Lynch.
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