Wednesday, Apr 07, 2010
From the UK to the BIS: we don't do austerity measures
The Telegraph: UK needs 'drastic austerity measures' to prevent debt explosion
Britain will need "drastic" austerity measures to prevent public debt exploding out of control, the Bank for International Settlements (BIS), has declared.
Interest payments on the UK's public debt will double from 5pc of GDP to 10pc within a decade under the bank's "baseline scenario" before spiralling upwards to 27pc by 2040 – by far the highest among the OECD club of developed countries.
Posted by devo @ 10:18 PM (1341 views) Add Comment
12 Comments
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1. devo said...
take your 'austerity measures' and stick them where the sun don't shine
2. mr g said...
Yes Devo, right up GB's a**e
3. devo said...
memo to financiers:
we played your game, but you changed the rules
now you will pay
4. icarus said...
5% of GDP? 10% of GDP? 5% is £80bn, Actual interest on the debt currently is £40 bn. The Torygraph keeps repeating itself. The only thing that changes is the 'authority' it quotes to support its stuff.
5. Postle said...
As the BIS controls the world banks & the worlds banks control us the "dept slaves"
The people of UK should take this warning seriously this is not something the British can "Mouth"
their way out of... they have to take the medicine and stop being Greedy, Drunken and Oafish
Lets hope David Cameron brings some class and good sense back to the British people
6. Postle said...
As the BIS controls the world banks & the worlds banks control us the "dept slaves"
The people of UK should take this warning seriously this is not something the British can "Mouth"
their way out of... they have to take the medicine and stop being Greedy, Drunken and Oafish
Lets hope David Cameron brings some class and good sense back to the British people
7. the number cruncher said...
Torygraph translation service: Britain will need drastic austerity measures to transfer even more wealth from hard working families to our banking overloads...
8. drewster said...
Until the election is over, it's probably not worth paying attention to anything in the UK media. This article can be abbreviated to "Vote Tory or we're all doomed"; similarly most articles in the Guardian can be abbreviated to "Vote Labour or we're all doomed". I'll stick with the international media for a while.
9. paul said...
@drewster
Yes, good point. A lot of strings being pulled right now by media moguls to shape public opinion. Still looking on the bright side, at least there's mixed opinion on who to vote for.
10. orcusmaximus said...
It doesn't really matter who you vote for now. We'll all doomed because the sheeple voted Labour in the last 3 elections...
11. devo said...
6. Postle said... the BIS controls the world banks & the worlds banks control us the "dept (sic) slaves"
you recognise the problem then
that's a start
12. Postle said...
devo said....you recognise the problem then
yeah that's why I don't live in the UK
that's a start & a finish
ha ha ha ha.....