Kasz216 on 26 March 2009
| SamuelRSmith said: Ah, I was mistaken. I'm going to find out what this external debt really means for our economy tomorrow in my economics class. |
Cool. It's an interesting subject.
It's basically what your government, people and buisnesses owe other governments.
Being a huge international financial sector is actually a reason why the UK is having some problems right now. Well that and the UK has always "lived above it's means" even before then.
It's a substantial risk should the world hit another rough time before the economic recovery happens.
Switzerland should be a good indicator.
