| bobbo19 said: everything Kaz says realtes the Uk falling into the same trap as iceland. jheeeez!!! LOL |
Because it largely is?
It's unlikely that a major country goes bankrupt... but if one does you can bet dollars to donuts it'll be the UK.
For some reasons why...
http://www.thisismoney.co.uk/news/article.html?in_article_id=467930&in_page_id=2
"Consider the following terrifying facts. Our national debt officially stands at approximately £400bn - in itself a frighteningly high figure and our annual borrowing is now larger as a percentage of gross national product than in 1976, when Labour Chancellor Denis Healey was forced to call in the International Monetary Fund to rescue the economy."
"Let's take the case of just one - the RBS group, whose two principal assets are Royal Bank of Scotland and NatWest. RBS has outstanding loans and other assets amounting to an eye-watering two trillion pounds. That's five times the size of the national debt."
