Quote:
Originally Posted by Jesus H Christ
If you read the thread I referred too, many national and International source quoting the same numbers. But the easiest is CNBC slideshow. Also, you're not combining the internal to the external debt numbers. |
no i was talking about government debt that's what's behind the european financial crisis. most of that personal debt in the uk is mortgages secured on property. the average house price in the uk is about £200k ($300k+) we're a small island with a large population and there's a lack of supply. although prices could fall in the uk they won't crash like they did in the US which started the last financial crisis.
as far as government debt is concerned although it's huge, british governemt borrowing is the cheapest in europe. and governemnt borrowing is a lot less in the uk than the US.