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Who will join the financial merry-go-round?

The last few days have seen a whole host of financial companies jump on the merry-go-round of help and assistance and try to find a way out of their troubles. We have seen the UK government jump to the assistance of the likes of Bradford and Bingley and Northern Rock, we have seen the Luxemburg and Belgium governments try to stem the tide at Fortis and now we are watching the whole Icelandic financial sector crumble before our very eyes. So who next?

This is the time when you would like to say that it is only the smaller banks and smaller countries which will hit trouble, but that would be untrue. The UK may have gone through a bad patch, but it could happen again, Luxemburg and Belgium are starting to see major problems in their markets and the French are not unscathed either. So what about the likes of Spain? The likes of Portugal?

Many countries have literally been too quiet, possibly working away on rescue packages as we speak because rest assured that no financial market in Europe will escape unscathed. This may well be the final kick of the credit crunch but it is a kick which could literally be felt for many years to come.

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