After the much touted 700 billion dollar US bail out plan, now it is the turn of UK to pronounce a 150 billion pound bail out plan aimed at reducing the impact of the severe credit crunch in the entire European system, which is crippling the entire economy.
Experts feel that even this may not be enough, since most of the mortgage loans and securities worth trillions of dollars need to be written off , which is not possible. The pain is expected to deepen further in coming quarters say experts.