Overseas aid budget

[geraint]

But who do we owe it to,and what happens if we don't pay it back, is there a mysterious benefactor,The Bilderberg group ,The Illuminatti, Knights Templar?

1. we owe it to the people and organisations who lend money, or bought bonds, thousands of them all over the world - hedge funds, tax havens, investment banks, merchant banks, credit companies..........

2. if we dont pay it back a) we go bankrupt as a country, like germany did after WW2, and b) no one would lend the government any money ever again, or only at staggeringly high interest rates.

2. if we dont pay it back a) we go bankrupt as a country, like germany did after WW2, and b) no one would lend the government any money ever again, or only at staggeringly high interest rates.



what utter tosh...

 

[joe-90]

What would happen then?

 

[Lincsbodger]

Explain to us your version of what happens when a government welshes on its sovereign debts....................you think the people who are owed all that money are just gonna shrug there shoulders and walk away ?

Heres what happened when exactly this scenario occurred in Argentina recently:

http://en.wikipedia.org/wiki/Argentine_economic_crisis_(1999–2002)

and how they were forced into an expensive debt restructure

http://en.wikipedia.org/wiki/Argentine_debt_restructuring

Explain to me exactly what is 'tosh' about it..............you're another sooey, quick to call other peoples post rubbish but never posting any alternatives, someone who just stands on the sidelines jeering, making no useful contribution yourself.

 

[Whitespirit66]

Perhaps 'Geraint' didn't like the fact that you used 'welshing' as a term for not paying debts. Probably gone to the Commission For Racial Equality.

You really dunnit now, isn't it, look you boyo, by 'yer!