Given that recently-imploded Dubai World is still top of mind, and the Iceland meltdown was really not so long ago, it must make a mighty bitter pill for them to swallow.
According to the Financial Times: (more)
Monday, January 18, 2010
UK’s Only Options are “Default, Inflation or Belt-Tightening”
Yesterday, McKinsey released a new report showing that the combined public and private debt in the UK is now 449 Percent of GDP. It’s actually the biggest debt to GDP jump of any western nation over the span of the past ten years.
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