Terms that were once limited to the pages of financial publications have now become more commonplace as people discuss and read about the ongoing economic crisis, one sector commentator has claimed.
Cormac McKeown, head of content at Collins English Dictionaries, said that the word sub-prime was now 20 years old but that it was only in the last year that it has started being used in tabloid newspaper articles.
"The average guy in the street might not be able to tell you off the top of his head exactly what a credit default swap is, but he's now much more likely to be familiar with the term than he would have been a couple of years ago," he added.
Mr McKeown went on to point out that Britons have even invented new words to describe the economic downturn, such as recessionista, credit-crunched, brickor mortis and staycation.
According to Collins, a staycation means a holiday spent at home due to strained financial circumstances.
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