Politics Weekly for Thursday January 24

Political leaders across the world had a shock this week when stock markets in Europe, Asia and the US experienced their most dramatic losses since the 9/11 attacks in the US. The markets staged a recovery but on both sides of the Atlantic commentators are warning of a recession. Britain's own little difficulty, the troubled Northern Rock, made the headlines this week as the Chancellor Alistair Darling unveiled a £25bn rescue package for the bank.