Episode 2: The Party's Over—How the West Went Bust (Enhanced DVD)
Robert Peston, BBC correspondent and business editor, takes a closer look at how the world managed to get itself into a financial crisis with huge imbalances in the economy and suggests that the UK needs to look into radical overhauls of its economic systems. In this second part of the series, Peston looks at how Britain can compete in today's economy and what its consumer society could mean for its ability to make those necessary changes.
Peston examines how the economy has existed on living above its means, and compares Britain's economy to Germany's thriftier approach. He also offers various predictions for the country's economic future, whether this sluggish economy will continue for years or decades and how the rest of the world's response could impact Britain.
This film has a run time of 50 minutes and is closed captioned for the hearing impaired.