Why is the UK immune from bankruptcy?

[AtW]

so whats wrong with a bit of education ?

It's more expensive, and it won't work 100% - a few cheats would get cheap money and buy themselves big houses, flashy cars using "cheap" debt where as others will just watch? The end result will be that the others will also be in debt (edukation or not), oh wait that's exactly what happened...

[scooterscot]

I am talking about poor quality tulip like shoes that won't last more than few months

Speaking of cheap shoes, are you a smoker? I think so.

I've noticed that many smokers seem to have a lack of care for what they put on their feet. Why is that? Maybe the habit costs so much that constraints have to be put on other spending. Yes I'm drinking.

It's along the lines of a client's coffee, bad coffee = amazing rate

[EternalOptimist]

It's more expensive, and it won't work 100% - a few cheats would get cheap money and buy themselves big houses, flashy cars using "cheap" debt where as others will just watch? The end result will be that the others will also be in debt (edukation or not), oh wait that's exactly what happened...

listen comrade. I have TWO sofas. both paid for

[scooterscot]

listen comrade. I have TWO sofas. both paid for

I'll match your two sofas and rase you one...

[OwlHoot]

Because it's still worth it. And secure: the UK has never defaulted on debt. No organisation has a longer history of debt without default.

Not true - The UK defaulted in 1672 (the Exchequer Stop) and effectively in 1932 (by reducing the interest rate payable on war bonds).

[OwlHoot]

It has been a while since the pro Euro simpletons have raised their heads above the parapet. It was never an economic decision for countries to join the Euro in the first place. The sceptic economists on our "little Island" have now been proved right as the Euro faces collapse (or at least fundamental change).

Nor is it a bad thing that the £ has fallen against the Euro in fact quite the opposite. We have been ruled by labour who have squandered zillions and this has reflected itself with our currency.

We are now in a position to ride the recession because we have our own currency. the Greeks, the Irish and Spanish are stuffed because they cannot reduce the costs of their goods and services to escape recession. The Germans thought that they had put an end to cheap competition from other EU countries by imposing the Euro on them (along with all the other EU laws) and they are now paying the price by having to bail out the other Euro economies. It will serve the Krauts right when they find themselves having to bail out Portugal and Spain.

Irelands only hope for recovery now is that its low corporation tax will make the economy grow enough to pay its debts .. dont hold your breath. had Ireland not joined the Euro it would never have had low interest rates to fuel their property bubble

The simpleton mind of the pro Euro brigade that sees the Euro as nothing more than a simple means of exchange or is p****d off because his £ is worth less has no idea of the reality of basic economics.

Well said, Dodgy.

[AtW]

listen comrade. I have TWO sofas. both paid for

Did you have to wait like 20 years in a queue to get them delivered?

[Doggy Styles]

It has been a while since the pro Euro simpletons have raised their heads above the parapet. It was never an economic decision for countries to join the Euro in the first place. The sceptic economists on our "little Island" have now been proved right as the Euro faces collapse (or at least fundamental change).

Nor is it a bad thing that the £ has fallen against the Euro in fact quite the opposite. We have been ruled by labour who have squandered zillions and this has reflected itself with our currency.

We are now in a position to ride the recession because we have our own currency. the Greeks, the Irish and Spanish are stuffed because they cannot reduce the costs of their goods and services to escape recession. The Germans thought that they had put an end to cheap competition from other EU countries by imposing the Euro on them (along with all the other EU laws) and they are now paying the price by having to bail out the other Euro economies. It will serve the Krauts right when they find themselves having to bail out Portugal and Spain.

Irelands only hope for recovery now is that its low corporation tax will make the economy grow enough to pay its debts .. dont hold your breath. had Ireland not joined the Euro it would never have had low interest rates to fuel their property bubble

The simpleton mind of the pro Euro brigade that sees the Euro as nothing more than a simple means of exchange or is p****d off because his £ is worth less has no idea of the reality of basic economics.

I couldn't have put it better myself.

[Ignis Fatuus]

Not true - The UK defaulted in 1672 (the Exchequer Stop) and effectively in 1932 (by reducing the interest rate payable on war bonds).

True. But the first was only a suspension for a year, not a real default. The second was a unilateral reduction in interest rate on a domestic borrowing, not a real default on sovereign debt.

And the repudiation of the WWI debt to the US was done in response to the US explicitly accepting German repudiation of their debt, and was implicitly accepted by the US. So not a "real" default.......

[SupremeSpod]

listen comrade. I have TWO sofas. both paid for

I'll match your two sofas and rase you one...

We only have two sofas but we also have a pouffe!

(All paid for I hasten to add.)