ANDREW MILLIGAN, STANDARD LIFE: 'The end of the beginning'

Part 1 (recorded on Thu Apr 3rd 2008): Andrew Milligan, head of global strategy at Standard Life Investments, says it could be "the end of the beginning" of the financial turmoil resulting from the credit crisis. But he tells Gillian Tett, FT global markets editor, the effects on the real economy have yet to be seen to their full extent and to expect "sub-trend growth" globally.