As we edge ever closer to Tuesday's Budget, the Independent has an very helpful page here . In the paper verion (18/6/10) it led with a league table of countries at risk of defaulting on their debts. It goes like this:
Most at risk
Greece
Ireland
Portugal
Italy
Spain
USA
Japan
UK
France. Austria
Germany
Belgium
Oz
Canada
NZ Finland
Denmark
Sweden
Switzer
Norway
Least at risk of defaulting
[source Royal Bank of Canada European Division]
So although The Boy George will cause gullible journalists flesh to creep with the dangers to the UK economy, we are in fact 8th in line for the chop, 2 places behind the USofA, and let's face it, if the US goes down the pan, the rest of the world will follow it, cuts or no cuts.
It is also noteworthy that the most economically equal countries in the world (those with the smallest RPG) are least likely to default.
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