bobbo19 said:
Kasz216 said:
SciFiBoy said:
Kasz216 said:
SamuelRSmith said:
I can't understand people's mentalities when they blame GB for the recession. I don't think he was in control of France's economy, or the US's, or China's, or anyone else's apart from ours, for that matter.
I personally prefer Gordon Brown to Tony Blair, but that's for another day (or not, depends on how this thread goes  ) |
Yeah. Though the UK is in a worse position then the UK and China.
The UK has a very real shot at going bankrupt like Iceland has.
Which you may actually perfer considering your polcies since it would almost definitly force England closer into the EU fold.
I'd think the EU would step in and do a currency transfer fairly fast so as to not adversley effect the poor too much.
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any proof that were about to go bankrupt? seriously ive seen none? when you have Evidence of this, then post
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Your country has by far the highest budget deficit in the world when it comes to a major country...
And being a major country and being a finanical hub of lending... you actually have debts that may need to be paid should people start pulling out pretty fast.
Also your banks are a fairly large part of your economy and they have a lot of foreign currency liabilties.
To put it another way.... Iceland collapsed with a debt that was 600 percent of it's GDP from it's banks.
The UK's is currently 450 Percent if your banking system fails.
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oh c'mon dude, everyone knows the USA has the largest deficit by a country mile. Just wiki it and you will see the it goes as follows: 1)USA 2)UK 3)Spain. when it comes to debt.
You also seem to be forgetting the fact many countries still owe us money. Admittedly banking is the mainstay or our economy but we in a completely different league to Iceland. Not one country in the top 5 GDP earners (USA,Japan, China, Germany and UK) will allow its banking system to fail
P.S hope i'm not made to regret that last statement. lol
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That is all well and good in raw numbers, but the US has a higher population and higher GDP. The UK's situation is much worse than that of US.
From Wiki as you suggested.
Rank  | Country - Entity | External Debt
(million US$) | Date of information | External Debt
Per Capita (US$) | Date of population* | External debt (% of GDP) |
|
 World |
$51,780,000 |
2004 |
$8,141 |
2004 est. |
78.92% |
| 1 |
 United States[1] |
$13,703,567 |
6/30/2008 |
$42,343 |
31-March-08 |
99.95% |
| 2 |
 United Kingdom |
$10,450,000 |
6/30/2007 |
$189,855 |
Q4 2007 |
376.82% |
World
United States[1]
United Kingdom
