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Debt toy

Community Veteran
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Registered: 24-09-2008

Debt toy

Interesting to see who owes what to whom!
http://www.bbc.co.uk/news/business-15748696
12 REPLIES
Community Veteran
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Registered: 01-08-2007

Re: Debt toy

Thats actually pretty good for a debt visualization. I think thats very clever!
I need a new signature... i'm bored of the old one!
Community Veteran
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Registered: 12-08-2007

Re: Debt toy

An interesting way of showing us the figures.  No wonder some countries are worried. 
Community Veteran
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Re: Debt toy

What I don't understand from looking at that, is if greece owe such small amounts how come everyone is panicking so much?
I need a new signature... i'm bored of the old one!
Community Veteran
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Re: Debt toy

Quote from: Sprite
if greece owe such small amounts how come everyone is panicking so much?

They are a small country  Roll eyes
To do is to be - Neitzsche
To be is to do - Kant
do be do be do - Sinatra
Community Veteran
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Registered: 04-08-2009

Re: Debt toy

Greece is, or was, a cash-dependency, so few people paid taxes. Hence the government had little income to service its debt, hence the severe risk of not being able to at all, hence the sudden bail-out!
Community Veteran
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Re: Debt toy

A not uncommon situation in other Mediterranean countries as well Roll eyes
Community Veteran
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Registered: 02-08-2007

Re: Debt toy

And how is it that we are only having to pay a low interest rate on our outstanding sum ?
As I understand it our debt is rapidly increasing whilst our current and projected growth rate is almost zero ?
Community Veteran
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Re: Debt toy

Our interest rate indicates the confidence the markets have in us.  Hence the increased rates recently in Italy.
Community Veteran
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Re: Debt toy

This may well be misplaced confidence based on our past history and our ability to get through the toughest times but the world has changed and others are producing goods we no longer  make.
Many of our systems such as health and education were once top of the league but this is no longer the case.
Market confidence can quickly change and the future does not look to bright (for most people)
Community Veteran
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Re: Debt toy

Quote from: artmo
Our interest rate indicates the confidence the markets have in us.  Hence the increased rates recently in Italy.

Wonder how long that confidence will last Undecided  
Must admit I agree with Cameron on the Tobin Tax, but for different reasons, It taxes private pensions funds (again), where as Public Sector, State and MP's pensions because they are paid out of the public purse would be exempt.
I'm inclined to side with Merkel on not allowing the ECB to print money, if Greece has to sell of a bunch of Islands so be it.
Just been sent this link from a colleague in Japan:- http://order-order.com/2011/11/18/farages-rage-going-viral/ ; ..............well out of order
David_W
Rising Star
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Re: Debt toy

The thing with that chart that is interesting (in relation to the UK at least) is we owe countries pretty much as much as they owe us so wouldn't it be a bit prudent to say "ok, we owe you £120b and you owe us £120b, lets write off that debt from each other so we don't get saddled with the interest rates".  We owe France €209b, so we have to pay off that + interest, France owes us €227b so they have to pay that off + interest, I'm sure both the UK and France would be happier if that debt was France owing the UK €17b with much lower interest payments, it boggles the mind.
Community Veteran
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Registered: 01-08-2007

Re: Debt toy

Yup, calling it quits would certainly be a pretty nice idea but of course you know they won't allow that. Numbers have to go across bank computers tomake it all politically correct..
I need a new signature... i'm bored of the old one!