MungoBrush wrote:Cannydc wrote:The UK has never been bankrupt.
That is simply fact, it can't be altered by opinion - to be officially bankrupt is far more than opinion, and opinion is all you have.
We print our own money. Effectively we pay for government expenditure above that taken in via taxation by issuing bonds, on which we pay interest.
Thus if the fiscal situation in the UK worsens, we raise the rate of interest on our bonds to ensure income, to pay debts and ensure no bankruptcy.
As stated before, if the likes of Greece aren't going bankrupt, we never will. Bankruptcy is essentially a myth as far as the UK is concerned.
Well, I'll place a higher credence on the opinions of professors of economics over an anonymous poster on an internet forum thanks.
Bovvered ?
You are 100% wrong.
As are they, if they are claiming the UK has ever been truly bankrupt.