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Countdown to €/£ parity | 102 comments (102 topical, editorial, 0 hidden)
Re: Countdown to €/£ parity (4.00 / 3)
The key issue is the value of the assets Britain can set against its 400% of GDP external debt mountain.  If those assets are in quality profitable companies, then fine.  If they are in derivatives, dodgy mortgages and other asset bubbles and Ponzi schemes, then you are looking at a massive default.

notes from no w here
by Frank Schnittger (mail Frankschnittger at hot male dotty communists) on Fri Dec 12th, 2008 at 09:39:29 AM EST
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Countdown to €/£ parity | 102 comments (102 topical, 0 editorial, 0 hidden)
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