UK debt
Apologies for continuing with the sovereign debt theme but McKinsey has written a paper entitled, "Debt and Deleveraging: The Global Credit Bubble and its Economic Consequences" in which it estimates that the UK has the highest leverage in the Western world. It reckons that the gross level of British private and public debt is 4.5x larger than the country's GDP!
posted by Whispering Walls at 11:15 am
5 Comments:
Goodness. Doesn't it make one feel proud to know that we Brits can make the Greeks look prudent.
with gordon brown at the helm surely we are in good hands.. no spin .. spend baby spend!! britannia rules the waves
Yes and that's only the pets...
Hi Angus - at least our net debt levels are more respectable
Yes Anon - hope you're enjoying the sales
Does GB own a pet, KL?
Hm well at the risk of being labelled as sarcastic, I would say Labour's tied estate.....
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