London (Shakespeare Finance) September 8, 2009: For how long credit crunch will last? This is the question that almost every person in the United Kingdom is asking these days. But if we are not sure of time, then people should learn to adjust themselves according to the situation.

The worst affected of them all are the common household people who are finding it extremely hard to survive these days. Since the crisis has severely affected the savings and funds of the common people. This has increased their dependency on various loan products like payday loans, homeowner loans etc, which has ultimately made the matter worse for the economy. On the other hand, the liquidity crunch is a situation that is proving to be an excellent platform for the likes of banks and business communities to effect several favours such as relaxation and many others from the policy makers to bent things in their direction.

However according to former IMF chief economist, Kenneth Rogoff, these measures have warded off the danger of a major banking break down that was looming over the head of the banking sector. Though this could be true to certain extent, but it is being expected that in near future, things may get more worse then expected. Even banks too are feeling reluctant to entertain any loan request as they are not left with ample funds to support the business.