The UK faces a second credit crunch. http://uk.finance.yahoo.com/news/br...-official-survey-warns-tele-173033c7a3b7.html I have been expecting this for a while. However rather than domestic causes that this article indicates I thought it would be due to the international issues. The alt a and option arm mortgages are expected to default over the next two years at high levels. This was my expectation for the shortage. I now worries me that the domestic explanations are in addition to this. Any thoughts. Any suggestions for what the central bank should do if a similar position arises again?