Fatcat chiefs at unis need reality check

SCOTLAND'S universities face an unprecedented cash crisis but their pampered principals appear unable to climb down from their ivory towers.

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For years the sector has been cashing in on an international reputation for excellence dating back centuries.

That reputation has everything to do with the Scottish Enlightenment of the 18th century when historic figures like Adam Smith and David Hume made huge advances in the fields of economics and philosophy.

It has meant that in modern times students from around the world have flocked to our country to earn degrees that will be respected by leading employers on every continent.