The Cold War is over and Ned has been demoted to the training academy. He asks his old mentor, George Smiley, to address his passing-out class. There are no laundered reminiscences; Smiley speaks the truth - perhaps the last the students will ever hear. As they listen, Ned recalls his own painful triumphs and inglorious failures, in a career that took him from the Western Isles of Scotland to Hamburg and from Israel to Cambodia. He asks himself: Did it do any good? What did it do to me? And what will happen to us now?