Going the way of the Greeks

[mumzy]

AIBU to think if we don't get our country's deficit undercontrol that we could go the same way as Greece?

No don't think you ABU - anythings possible...but I hope we don't go the same way as Greece...

it is possible but it is important to remember that the rumour has it that the greeks view paying tax in the same way a lot of people view slightly speeding in this country. A I understand it there is no mechanism to recover unpaid taxes. So that weakens the position of the greeks as a nation financially. interesting my uncle (not english) thinks GB has done a good job at putting us in a better position financially then a lot of european states. I however, have my doubts and am concerned about the effects of Greece going banckrupts, the euro being devalued/affected, and how this will impact the uk. I think the biggest problem will come from not having a good plan for dealing with the debt. If we have problems there is the possibility of bail out if we can prove that we have considered how to reduce and try to resolve/prevent this. The Greeks have the problem that before they have any help they have to consider these things when they are at the point of needing the bail out yesterday and not having time to introduce the change and cut slowly and considered.

We're also in a better position because we're not in the Euro. The pound can devalue (thus effectively reducing the value of the debt), exports are more competitive. (Just so long as we regain the plot and start making more stuff the rest of the world wants, and stop importing so much we can't afford)

only if we get a labour or lab/lib gvt - this country had to go cap in hand to the IMF back in the 70s because of the crazy Labour policies - don't risk it!