mememe wrote:As usual, it's likely to be a minefield, of course - so exercise due care.
bigbulg wrote:The problems with the Southern European countries is not only the amount of debt, the biggest issue is that they have to repay loans and Bonds which are due imminently. Luckily for the UK, altho we also have huge debts, our bonds, loans and debts are repayable a long way in the future, 9-10 years in fact, at low interest rates, and we have a sovereign currency (£) which can de-value (and has) with the ability to print money. With all the bad news around the Euro you would expect the £ to be a lot higher and i imagine it would have been if we didn't use our "Quantative Easing".
We still have our AAA rating too, our Bonds are in great demand, its not all doom and gloom just yet.
I must add, I do now think Bulgaria is in an envious position (from a Greek/Italian/Spanish/Portugese/Irish and Hungarian prospective) it has lots going for it. Already Greek companies are coming over in droves, attracted possibly by the 10% tax rate tho more than likely the future tax regime of their home country.
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