Three reasons why Britain is less well placed to weather the economic storm

The picture of a £10 sinking amid the waves on the front of this week's Economist makes its clear what the magazine thinks of the prospects for the British economy.

Its leader makes it clear that despite the problems being global in nature,there are three reasons why Britain in particular is badly placed.

1.That the country has seen rampant property price inflation

2.that Britain's households are the most indebted in the G8 and and

the tide of cheap credit that caused the housing and consumer-spending booms has ebbed particularly fast in Britain.

3.that the growth came on the back of a flamboyant City thus

An economy that came to rely as heavily as Britain’s did on finance is clearly vulnerable to an extended banking crisis.

So nect time Gordon Brown or his chancellor tell us that we are better placed than most to ride the storm perhaps they should think of this