Lots of scary articles about the British economy at the moment.
I can especially recommend Fraser Nelson’s blog posting on Coffee House, and the two articles he links to there:
First of all this article in the FT by Willem Buiter (which among other things explains why joining the euro is a good idea).
Secondly, this article in The Times.
This is all scary stuff. As the last article states, “one third of Icelanders now want to emigrate, things have got so bad, a recent survey found. The proportion of Britons with similar wanderlust may not be so different before this economic agony passes.”