With a staggering national debt hanging around their necks, it will come as no surprise that the European Commissions Board placed the British Coalition Government into administration.
Top financial expert Meester Smitt was called in to take over the financial state of affairs following a last ditch attempt by universities to raise tuition fees.
Serves em right in my eyes.
Having faced the 10 point deduction penalty for entering administration, David Cameron will be given £5 pocket money to spend per week if he's a very good boy, but will have to clean Meester Smitt's car a few times to earn more money to spend our economy.
However, Meester Smitt confidently boasted that we won't enter liquidation any time soon.
"Zis cwntree iz not goeeng to be like Portsmeuth. I aim to get us back to ze top shortly. Ve has lot vork to do, but ve can du it!"
First to go will be the Queen's allowance on her corgis after they tried to claim second home insurance on some attractive kennels in Battersea.
National Debt was alleviated after investigators found Botox receipts in rubbish bins around Number 10 last year. However, with the UK trillions of pounds into debt, the question remains : can we get out of debt soon?