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Britain unlikely to end up like Greece - True or False?

Von: Maria (fallingdown@holeinshoe.co.uk) [Profil]
Datum: 30.04.2010 13:53
Message-ID: <1IqdnXOGjfEBWUfWnZ2dnUVZ8r-dnZ2d@bt.com>
Newsgroup: uk.financealt.politics.british uk.politics.misc
But the institute (NIESR) calmed fears of a similar crisis arising in
the UK, which has a public deficit of £163bn. Weale said: ‘The UK
situation is quite different for a number of reasons except in the fact
that our magnitude of budget deficit is not very different from
Greece..... It’s very unlikely the same thing would happen in Britain.’

He explained that the UK’s debt maturity was much longer, that the UK
government had never defaulted and had, in fact, the ‘longest record of
honouring its debt in the entire world’. In addition, the UK government
would always be able to honour its debt by borrowing through the banking
system because sterling is legal tender.

Holland added that Greece was a ‘special case’ because it lacked
investor credibility. She said the Greek government had ‘consistently
miscalculated important statistics related to the economy’, such as the
size of its deficit.


Is this a reasonable assessment of the situation?

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