Financial crisis has 'paralysed' politicians says Ken Clarke

Political leadership in Washington and Western Europe has suffered "paralysis" in the face of the financial crisis, former chancellor Ken Clarke has said.

He told BBC Two's Newsnight that governments had been "overwhelmed" by the scale of the crisis.

Mr Clarke, now Justice Secretary, said the UK's fate partly depended on "how these people sort it out".

His comments come as EU finance ministers meet in Poland on Friday amid fears for the global economy.