As victory over Japan was declared in 1945, Britain was a relieved but also a profoundly traumatized country. It was a very peculiar trauma, created by having won the war while in many ways losing it. The war had ruined Britain's image of itself as a great power. It had only prevailed through the assistance of the two greatest nations on earth; and it now found itself bankrupt, dependent and - despite the efforts of the new Labour reform government - with no discernable future. This feeling prevailed for decades and it still seeps into national life today.