World economy on the brink?

The world is facing possibly its worst financial crisis since the 1920s.

It has seen the collapse or takeover of a number of world famous financial institutions and now the US government is debating a $700bn bail-out plan.

BBC News has been chairing a debate called World Economy on the Brink? to discuss the origins of the crisis, consider who might be to blame and look at possible solutions.

The discussion was chaired by Andrew Neil and featured leading members of the financial world including:

George Magnus, senior economic adviser, UBS

Ken Courtis, former vice chairman of Goldman Sachs, Asia

Terry Smith, chief executive, Tullett Prebon, an inter-dealer broker

Jim Chanos, founder and president of Kynikos Associates, a dedicated short-selling hedge fund

and BBC business editor Robert Peston.

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