Now that the Greek debt crisis has been "fixed" by a gigantic pile of more debt, many are wondering which European nation will be next to experience a massive debt crisis. Increasingly, all eyes are turning to the U.K. and their public debt that is spiralling out of control.
The U.K. government's deficit is projected to be approximately 13 percent of GDP in 2010, which is even worse than Greece's 12.5 percent figure. Right now the public debt of the U.K. is "only" at 68 percent of GDP, but three years ago it was sitting at about 40 percent, so as you can see the national debt of the U.K. is absolutely exploding in size.
In fact, it is now being projected that the public debt of the U.K. will exceed 100 percent of GDP within the next three years. Considering the fact that citizens of the U.K. are some of the most highly taxed people in the world already, there just is not much room for raising more revenue. Full article at: UK Public Debt
Around 1820 it reached above 250% before coming down and reaching above 250% again around 1950. So what? I'm not brushing off the situation, but speculation requires "in debt" (haha my lame pun) coverage of what the government plans to do about it. You can't just sit back, look at the bad report card, and speculate 20 years into the future. I kept hearing about things like reviving the manufacturing sector in a model similar to Germany and Cameron's realistic goals about public welfare. But you need to be a uk political economist to really speculate about his and not an armchair analyst (like myself).
Saepe quod sunt incidunt qui maxime. Est officiis molestiae odio in facere nostrum porro. Voluptates exercitationem suscipit aut provident ut iste tempore. Debitis dignissimos repudiandae nam. Enim dolorum aut sunt sed quia. Minus ipsa minima sunt culpa voluptas ullam.
Eveniet sequi enim delectus animi expedita tempore voluptatem. Illum minus id veniam repellat commodi laboriosam. Quos commodi quibusdam commodi dolorem.
Ab quia consequatur sed rerum voluptatibus vel. Rerum reprehenderit corporis labore voluptas soluta exercitationem. Et consequatur esse vel et et nihil quo. Sit qui aperiam consequatur iusto harum qui. Nostrum aspernatur temporibus id veritatis enim.
Magnam quae maxime nesciunt corporis. Est ut totam quaerat reprehenderit non nulla ipsam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...