On the head of the British weighs a debt of 16 trillion dollars. The said John Hawksworth, chief economist at PwC, the largest consulting firms in the world. What economic system upon which the UK is a bomb ... of enormous power, designed to explode when the credit terms (interest rates) will end inevitably get worse. By 2015, revealed in recent days, the total debt of the UK share of the terrifying sfonderà 10 trillion (ten thousand billion) pounds. At the current exchange rate is U.S. $ 16 trillion, four times the GDP of Japan. A value than the entire economy of the EU or the United States.
"A cluster of gigantic proportions - writes Horses - has grown enormously over the past two decades, when the race to credit has picked up like no other." In 1987, PwC has shown, this total debt was worth around 200% of GDP. Today, with a total value of 7.5 trillion pounds, the ratio rose to 540% and the gap is set to expand. When in 2015 the total share will touch the dreaded 10, PwC states, with GDP per likely will be even less than 2 trillion
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According to an analyst at JPMorgan, a cut of "only" 20 per cent of the redemption value of bonds Greek, Irish, English and Portuguese lead to the elimination of the capital of French banks. It 's always more dramatically ... make clear that what should be done (hitting senior bondholders) would lead to the collapse of the European banking system. Another fact that, rather than talking, screams, the average interest rate on the loan that Ireland will pay the joint EU and the IMF is 5.8 per cent overall. From 2014 the service of this debt will be approximately 25 percent of revenue of the country. According to Moody's historical data, the percentage of debt service on total revenue that is causing the default is 22 percent.
plan "aid" for Ireland is simply unworkable.
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