I'm 117,580 euros in debt,

jim24

LE
Book Reviewer
#1
I would like to thank the government for almost making me apparently bankrupt.

BBC News - Eurozone debt web: Who owes what to whom?

€117,580 Foreign debt per person
436% Foreign debt to GDP
81% Govt debt to GDP
Risk Status: LOW
The UK has very large amounts of overseas debt, of which the biggest component is the banking industry. The high debt to GDP ratio is explained by the UK's active financial sector, where there is a great deal of capital movement. This level of overall external debt is generally not seen as a problem because the UK also holds high-value assets. Having said this, the UK economy remains in the doldrums and the country is highly exposed to Irish as well as Italian and Portuguese debt. The UK in turn owes hundreds of billions to Germany and Spain.


even the Greeks seem in less debt.

GREECE
GDP: €0.2 tn Foreign debt: €0.4 tn
€38,073 Foreign debt per person
252% Foreign debt to GDP
166% Govt debt to GDP
Risk Status: HIGH
Greece is heavily indebted to eurozone countries and is one of three eurozone countries to have received a bail-out. Although the Greek economy is small and direct damage of it defaulting on its debts might be absorbed by the eurozone, the big fear is "contagion" - or that a Greek default could trigger a financial catastrophe for other, much bigger economies, such as Italy.
 
#3
I would like to thank the government for almost making me apparently bankrupt.

BBC News - Eurozone debt web: Who owes what to whom?

€117,580 Foreign debt per person
436% Foreign debt to GDP
81% Govt debt to GDP
Risk Status: LOW
The UK has very large amounts of overseas debt, of which the biggest component is the banking industry. The high debt to GDP ratio is explained by the UK's active financial sector, where there is a great deal of capital movement. This level of overall external debt is generally not seen as a problem because the UK also holds high-value assets. Having said this, the UK economy remains in the doldrums and the country is highly exposed to Irish as well as Italian and Portuguese debt. The UK in turn owes hundreds of billions to Germany and Spain.


even the Greeks seem in less debt.

GREECE
GDP: €0.2 tn Foreign debt: €0.4 tn
€38,073 Foreign debt per person
252% Foreign debt to GDP
166% Govt debt to GDP
Risk Status: HIGH
Greece is heavily indebted to eurozone countries and is one of three eurozone countries to have received a bail-out. Although the Greek economy is small and direct damage of it defaulting on its debts might be absorbed by the eurozone, the big fear is "contagion" - or that a Greek default could trigger a financial catastrophe for other, much bigger economies, such as Italy.
Stop whinging , behave like an MP and borrow 200k off wonga.com or the likes , clear your debt and squander the rest on the high life .........
 
#4
A quick add up shows that if all the other countries paid their debt to us* and we repaid what we owed, we'd be, very slightly, in the black. Too logical/simple an idea? Also interesting to see that the yanks who think they can tell us to get our house in order, owe us approx Euro250 bn more than we owe them. They also seem to owe more than they are owed to most of the others too.



* For us read our banks
 
#8
Cheer up, you could've been born Irish.

GDP: €0.2 tn Foreign debt: €1.7 tn
€390,969 Foreign debt per person
1,093% Foreign debt to GDP
109% Govt debt to GDP
Risk Status:
 
#10
Il pay all that off if i get to kick **** out of ciggie and camberwell clunt till they turn blue and smell like rainbow sherbet
 
#15
But, sadly you aren't, hence your sweary, shouty, angryness can only be vented by this medium.

I noticed you found a shaved chap with an erect member to place my avatar on, I'm alarmed as I thought you didn't find such stuff amusing. Still back peddling shouldn't surprise me.

Is the picture from your collection? Was it a fellow user hard on cash who'd let you snap him for a wrap?
 
#16
Just want to point out that it was the Labour government that put you in so much debt, so you can thank Blair and Brown.
That's the perfect alibi is it not?

No ****** (Red or Blue) wants to accept responsibility, and when Labour next get in, they will use the same line.

******* pathetic approach to Word leadership.
 
#19
But in this case there is some justification - 13 years in power and all that
More than just "some" justification methinks.

In 1997, Labour inherited a reducing public sector debt of just over £300 billion together with a balanced budget - government expenditure was met by government income.

After Labour won the 2001 election, the brakes came off and, from 2002, government expenditure started to exceed government income. That is still the case and the difference between income and expenditure now stands at about £140 billion a year.

Overall debt trebled under Labour to around a trillion quid. That's £1,000,000,000,000 and that figure excludes PFI and public sector pension liabilities. Never mind, just think of all those fekkin' windmills we got.

At the end, Gordon Brown was spending money like a chav with a winning lottery ticket. In February 2010 alone, we spent more on global warming than we spent on transport. Gordon couldn't depart from a third world country without leaving behind at least a billion quid.

No problem though. WTF is the Bank of England for if not to keep a steady supply of crisp fifties flowing into government coffers (via a number of handsomely compensated intermediaries of course, as it's a criminal offence under the Bank of England Act for the Bank to hand newly printed cash straight to the government).

In the end, the Brown government's expenditure was exceeding its income by about 50% and a third of government expenditure involved the use of banknotes where the ink was still wet, so to speak.

That's why our economy is in the mess that it's in. Every Labour government in Britain's history has increased debt, deficit and unemployment. Stand by for the cycle to restart in about 10 years.
 

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