Sounds like Greece might be heading towards revolution...

[suityou01]

Yes but at least we have the profits from SKA to help bail us out.

Beaut

[gingerjedi]

UK has got worse budget deficit than Greece.

Our debt is largely new loans not due for many years, there's a lot riding on our economy picking up to get that moving in the right direction.

Greece on the other hand has 'rolled over' debt and their economy is still spiralling downward, fecked. If Spain follows then the whole of Europe is fecked as their economy is massive compared to Greece.

Get down to the costa's and spend spend spend.

[suityou01]

Our debt is largely new loans not due for many years, there's a lot riding on our economy picking up to get that moving in the right direction.

Greece on the other hand is still spiralling downward, fecked. If Spain follows then the whole of Europe is fecked as their economy is massive compared to Greece.

Get down to the costa's and spend spend spend.

Insallah. Not long now.

[AtW]

Our debt is largely new loans not due for many years, there's a lot riding on our economy picking up to get that moving in the right direction.

UK relies heavily on new debt (gilts) sold to finance current deficit - this means if buyers walk away OR ask for higher interest rate, then sales of current debt would collapse and Govt will have to again use BoE to print money to buy gilts.

In Greece Govt have shown that they would cut budget deficit even if people protest, in this country neither Labour nor Cons nor LibDems dared to offer credible plan to cut down budget deficit any time soon.

[AtW]

Yes but at least we have the profits from SKA to help bail us out.

[gingerjedi]

UK relies heavily on new debt (gilts) sold to finance current deficit - this means if buyers walk away OR ask for higher interest rate, then sales of current debt would collapse and Govt will have to again use BoE to print money to buy gilts.

We have a agreed terms, Greece keeps consolidating.

In Greece Govt have shown that they would cut budget deficit even if people protest, in this country neither Labour nor Cons nor LibDems dared to offer credible plan to cut down budget deficit any time soon.

Are you aware they are trying to get elected? Only the dumbest people here expect anything other than a bumpy ride post election.

[shaunbhoy]

Yes but at least we have the profits from SKA to help bail us out.

Whooopppsss!! There goes the FTSE!!

[AtW]

Only the dumbest people here expect anything other than a bumpy ride post election.

Plenty of people choose to vote Liebor - I don't know what they expect

[alreadypacked]

I think one of the problems with Greece is a large part of tourism and other sectors operates in the Black economy. Current mesures will effect the people who pay taxes, mesures to bring the Black economy into the tax paying loop having little effect.

http://news.bbc.co.uk/1/hi/programme...nt/8509244.stm

http://www.asecu.gr/Seeje/issue06/katsios.pdf

"the range of the Greek Underground Economy at from 20% to 25% of GDP"

[Churchill]

I think one of the problems with Greece is a large part of tourism and other sectors operates in the Black economy. Current mesures will effect the people who pay taxes, no mesures to bring the Black economy into the tax paying loop.

Got it in one.

They don't want to pay tax and they're not afraid to rebel - this means that they're unreliable when it comes to paying back the loans.

(Un)fortunately we - in the UK - are reliable tax payers and used to being milked, yeah we moan and we groan but do we stand up and fight? Nope, we don't. That is the difference between us and the Greeks.