Wednesday, May 5, 2010

Forget about Greece, have a look at the UK

The British Daily Mail writes ".. The UK budget deficit will outstrip any other country in the EU this year and will be even worse than Greece, according to figures from the European Commission today.
The group's spring forecast puts UK borrowing at 12 per cent of GDP for 2010 - more than that of any of the 27 other EU countries and far worse than Greece's 9.3 per cent.
The gloomy prediction will mean that it is even more important that any incoming government reacts quickly to tackle Britain's mountain of debt..."--
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There are many potential victims out there which deserve to get devoured by the financial markets but it is the nature of predator to go for the weakest among the herd.

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