UK, the next Iceland? part 2

Britain is showing signs of heading towards 1930s-style depression, the Bank of England says today for the first time. (Source.)

Personal debt in the UK, £1.5trillion, is larger than the country's GDP. British corporate borrowing adds up to another £2 trillion. By next year the government will owe over £4 trillion. Total UK public debt and obligations come to a staggering 282% of annual GDP. British house prices could fall by another 55%, and there is a non-negligible chance that the whole country will go broke. (Source.)