Thread: UK Gambles National Solvency To Bail Out Banks

UK Gambles National Solvency to Bail Out Banks

January 22, 2009 | From theTrumpet.com


For the first time since the Middle Ages, Britain itself could default on its debt. Is the UK government now in the same boat as its banks? By Robert Morley

The UK financial sector is in collapse. Rather than let the banks fail, the government is risking it all in one giant high-stakes gamble to prop up the system. It is really a no-win situation, however: Even if the bet pays off, the best the economy can expect is a slow grind-down. If the bet doesn’t pay off, the UK faces national bankruptcy. The fate of Britain’s whole economy may hang on this gamble.

The UK banking system has reached a breaking point. “The country stands on the precipice,â€

Ha ha, maybe Bill Gates could buy UK now?

I would think alot of migration out of the UK would take place now that their economy is tanking.