Originally posted by BlasterBates
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The UK deficit is there because we stupidly enough indulged ourselves with a socialist government who borrowed and squandered vast amounts of money in order to pay huge numbers of people to work in pointless jobs or not work at all. The whole point is that by not being in the Euro we can now readjust our currency to stimulate growth in order to pay back our borrowings. So although the UK may be heavily in debt the lending markets are confident that the UK can pay back its borrowings. Not so with Spain, Italy and Greece
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