The story of Britain

Unlike US which saw a recession around 2001, after 11 consecutive years of growth; UK hasnt seen a recession in a decade & a half. For the last 15 years Britain has seen rising house prices & low unemployment figures. Though there have been recent concerns about whether the party may end this year. There has been news that the new financial capital of the world; "the city " may soon see job loss of the magnitude never seen before. Northern Wreck...oops. Rock, is not the only casualty . Unfortunately unlike American financial institutions, European banks have not received liquidity injections from the Arabs & the Chinese (UBS is an exception). I bet few years from now, it is the British banks who would have suffered the most from the sub prime crisis.