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Gloomy economic warnings are also being felt in Europe.
The day after the EU was warned of a financial "shock without precedent", in the UK a new scenario has been drawn up by the Bank of England which predicts the sharpest recession on record.
While the projections from the Bank aren't forecasts - as the governor says there's still too much uncertainty about to make forecasts - it predicts the UK economy will shrink by 14 percent this year.
The Governor of the Bank of England, Andrew Bailey, told the BBC there will be no quick recovery.
UK correspondent Olly Barratt speaks to Kim Hill.