Summary
At least that's the saying. What about the facts? A bag of organic manure costs in the region of Pounds 4, while potentially tainted manure is around Pounds 3. That just about sums up the Greek tragedy unfolding before our very eyes. The value of a loan to the Greek Government has fallen such that international ratings agencies class these kinds of loans as "junk". If you are prepared to lend money to Greece you have to be prepared to lose it all but while you are waiting to be repaid (hopefully) you can command in the region of 16 per cent interest payments.
Greece is marginally more bust than the UK. In other words its expenditure is in excess of its income. Except for Gillian Duffy, the majority of the British public does not seem to realise that the UK, like every other country, is a business. But democratic countries are unlike businesses in that it is difficult to make profits which can be held back for when times are hard. Or at least that is the case now for Britain.See the full content of this document
Extract
Where There's Muck There's Money - Maybe
When Gordon Brown became Chancellor of the Exchequer in 1997 he inherited a massive surplus. Previous Conservative administrations had been able to balance the books and indeed did...
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