We face financial meltdown – and this time we have a prime minister without an ounce of authority

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As the Guardian reports tonight:

More than £5bn was wiped off the value of three of Britain's biggest banks on Monday as global financial markets took fright at the deepening crisis in the eurozone.

Like it or not, the next crisis on the scale of the collapse of Lehman Brothers is now imminent. I doubt we can avoid it.

But last time the UK had a man in charge who may have been unpopular but who had a brain big enough to handle the challenge with a Chancellor cool en0ugh to deal with the crisis. Brown and Darling led the world - even if briefly - and saved the world's banking system by their actions.

This time we have a Prime Minister surrounded by scandal, immersed in controversy, shown beyond doubt to be of poor judgement and with few with any faith left in him. And he is supported by a Chancellor who has shown himself economically incompetent, whose policy is so very obviously failing and who has no record for sound decision making on which he can rely.

We're facing another massive economic crisis, but this time we haven't got the people in charge able to deal with it.

That's exceptionally troubling.