Summary
George Osborne, minister of Finance, thinks the only threat the UK is facing when it comes to debts, is that of a bond strike. What Mr Osborne thinks is that there is a possibility that investors of the UK could be frightened because of the amount of debts the UK has worked itself into. This would mean that those investors could ask back a whole lot more money than they are lending Britain in the first place. Britain could wine up in a debt spiral Osborne says, but when Osborne might get into trouble, the Bank of England is there to help him.
My Opinion
Every country is in debt, I think Osborne is doing a good job running the Financing department of Britain. He keeps trying to restore the British economy with all means neccesary, but now decided to set different priorities. Especially "after" the economic crisis the UK has been in some trouble when it comes to debts, a lot of other countries have been as well. I think it is good the Bank of England chips in to help Osborne when things seem to go bad. I am just wondering whether the United Kingdom will actually wine up in a debt spiral..
Link
http://www.guardian.co.uk/uk/blog/2010/jun/23/budget-2010-debt-reduction-economy
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