Worries about how HBOS, a British bank, would roll over its wholesale obligations forced it into the arms of Lloyds TSB on September 17th.

ECONOMIST: Are European banks insulated from the panic in America?

Since some of this debt is due for repayment next year, the Bank of England has a deadline for deciding whether to roll it over into a perpetual zero-interest debt - which would be seen as, in effect, writing off the debt.

BBC: Turner: Time for helicopter money?