With the most serious economic turmoil over the past 60 years, recession has taken a steep turn worldwide. Not only has this phenomenon affected some small and developing countries, but also the big giants like the US and the UK are also facing its acute impact.

However, to lessen the impact of the mounting debt situation that the UK economy is submerged in, Alistair Darling (the Chancellor of the UK) announced that the country's economy will resume growing at the end of the fiscal year of 2009-10, making it once again the World's economic leader.