Posted by: Martin | April 30, 2010

Creditors

Every country in the world is in debt. Even China.
In the UK we owe about £1,000,000,000,000. Who do we owe this money to? And what will they do with it?

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Responses

  1. That is lot of zeros, are we owed similar ammounts? if so can we just sell our debtors to our creditors and be roughly even stevens?

    • Mostly we owe the money to banks. Every day we pay about £86,000,000 in interest alone on the national debt. In effect this is a subsidy to the banking sector; a transfer of monbey from taxpayers to bankers. Hi-ho.


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