Acropolis Now

[Furunculus]

Yes, within Europe, the UK is second only to Greece in deficit spending.

The UK is one of the largest creditors of Greece. Yet because the UK is not in the Euro, British banks will be saved by the taxpayers in other countries.

The centre of European haute finance, of constant pressure for even less regulation, and the final recipient of taxpayer funded bailouts, is the City of London.

Ceaseless attacks on the Euro by speculators originate in London. The risks of this are for the European taxpayer, the profit for London.

[/perfidious Albion, rant rant rant]

wrong on both counts babbo, try reading the links supplied:

here you go:

http://www.nytimes.com/interactive/2...f=weekinreview

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on the other hand Britain's prospects look pretty good:

http://www.telegraph.co.uk/finance/7...no-Greece.html

toodlepip!

the first link shows who owes what, and i think you'll find we're $15b to ~$100b with the rest of the EU, with france holding the p00py end of the stick.

the second link notes that our structural deficit is probably closer to 5% rather than 12%, because a large part is short term debt relating to bank bailouts rather than decades of spending on credit.

we also have an avereage debt roll-over period 50% longer than the euro average, so we're unlikely to get bombed by the bond markets unless they get spooked by the tanking monetary union of our next-door neighbours...........