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[claymore]

Will Britain go broke?

[jno]

no

[jake-the-peg]

No - we are a very long way from the Greece situation

The question you should be asking is Will Japan?

http://www.leftfootfo...debt-to-GDP-ratio.jpg

[Gromit]

No.

The recovery is on.

// Manufacturing output grew at its fastest pace in almost 16 years during April amid signs of recovering exports, an industry survey has shown.
The Chartered Institute of Purchasing and Supply's (CIPS) latest activity index - where a reading over 50 indicates growth - reached 58 last month, the strongest since September 1994.
The recovery was aided by the sharpest growth in new business orders since January 2004 and the biggest jump in new export orders in the history of the survey. //

http://www.google.com...b-A7m_xtHki3b29gJwEAA

[jno]

it would help if AB's capitalisation pollicy didn't make this question appear to be directed at someone called Lou.

[bazwillrun]

well depending how you look at it we already are, we owe billions and are still borrowing billions

[rov1200]

No, but we are aall going to pay for it.

In the private world when a hard up householder wishes to borrow money he pays exhorbitant levels of interest on the debt.

As a country we are deeply indebted so any money we borrow will have high interest rates attached. Germany pays about 3% on its borrowings. Ours will be double that. It has to be found from all of us. We are living in hoc to the money lenders.
That is what Cameron is saying and the need to get rid of this debt sooner rather than later.

[jake-the-peg]

True - thing is Cameron doesn't mind starting a new recession to do it

[VHG]

>Germany pays about 3% on its borrowings. Ours will be double that

I wont pretend to understand the world money markets.

But I understood that as long as our credit rating remains OK our interest rate for borrowing stayed low (2 or 3 percent).

But I thought now that Greece credit rating has been cut they would have to pay 6 or 7 percent.

I have searched the web and cant find any figures of what interest we pay to borrow money.

[rov1200]

This is how your debt is increasing. It should have an 'X' certificate and is not for the squeamish.

http://www.debtbombshell.com/