They likely will, although that probably won't be underway for a year or so, not until the crisis unfolds more. and it won't stop at Britain, it will hit the United States, making it in need of World Bank/IMF programs, as well as the entire "developed" world, including Europe, Canada, even growing economies like China, India, etc.
I'd bet my bottom dollar on it, and that's saying something, because we should be saving our bottom dollars!
this crisis has barely begun. 2008 will be seen as the crash, and 2009, will likely be seen as the Depression. compare to 1929, crash, and 1930 the beginning of the depression.
"recession" is just the word used to describe the crisis so far... bubbles burst. hence the housing bubble, but that is the surface of the problem. there are bigger bubbles than housing. the housing bubble was built up in the 90s when the dot com bubble burst, courtesy of Alan Greenspan and the Fed, so that the whole thing wouldn't come crashing down then. instead, bad loans were encouraged by Fannie Mae and Freddie Mac, and liquidity was provided by the Fed. it was government sanctioned oligopoly capitalism at its finest!
the housing bubble has burst... next, we have the DEBT bubble. the US is roughly 45 trillion dollars in debt, its never possible to get out of this. the US dollar is less attractive an investment every day, also courtesy of the Fed. since the Federal Reserve was created in 1913, the US dollar is today worth 3 cents of what it was worth then. the dollar is virtually worthless, the only value it holds is that which it holds in the faith of people to use it as a currency... but this is changing.
its a bad investment, so other countries will begin to drop the dollar, this has already began. if somewhere like china drops the dollar, it will collapse. but its also bad for china, because their economy is suffering now, because they rely upon exporting to the US, which in its current recession and future outlook, will not be importing as much. so if the US economy nose dives, so does china. but china can't hold onto the US dollars for ever.
debts will be called in, and the US wont be able to afford it. default on loans, and in come the IMF and World Bank, which will likely go through a reformation to set a new policy program to deal with developed nations (western industrialized countries), and the international system as a whole.
the us economy will likely enter into a depression, taking the world with it. Alan Greenspan, largely the architect of the current financial crisis, who was also the longest serving Fed director in history, didn't always used to be on the "dark side". In the early 60s, he wrote some essays that went into an Ayn Rand book, titled, "Capitalism: The Unknown Ideal", in which he outlined how the Federal Reserve functions illegally in the US and that it caused the Great Depression.... interesting. i recommend finding that essay.
many economists the world over are warning about a new great depression, dwarfing the last one.
even back in 2007 we were warned about a great depression:
the IMF even warned that there is a possibility of seeing riots in places like the US, with the IMF head saying that "social unrest may happen in many countries - including advanced economies"
make no mistake, the REAL bubble has not burst yet