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British Economy is "Standing at the Edge of a Cliff"

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By Ben Cohen

The banking crisis in the U.K is so severe, Lib Dem leader Nick Clegg has warned that the economy is "standing at the edge of a cliff".

As the economy teeters, Prime minister Gordon Brown is moving to calm fears by buying up toxic assets and providing credit lines to troubled banks. He has also gone on the offensive accusing his rival David Cameron of being "out of his depth" on economic issues and "out of step with the rest of the world'. Cameron shot back attacking the government's lack of credibility, but his position looks weak given his inexperience.

Brown has received wide praise for his role in managing the crisis, but we should not forget that the economic measures he took helped create the mess in the first place.