In spite of the fact that the UK is grossly over-borrowed
they are calling, or should I say demanding, that the Conservatives move away from their austerity policy which has proved that it is the only way forward, and by the result of the general election it is what the nation wants.
They also have over-borrowed
households, an overleveraged real estate sector and bust banks; all a result of a speculative, credit-fuelled property boom.
Cyprus is lifting all capital restrictions on Monday that were imposed on the island two years ago when the economy reached a melting point and international lenders offered a e1/410 bln bailout plan, conditional to rebuilding the over-borrowed
banking system and reforming the public sector.
Yet, that is where we are most likely goingas asset bubbles meet their inevitable demise and the over-borrowed
go spectacularly bust.
The possibility that the continued reduction of money-printing by the US central bank will cause more stress for over-borrowed
emerging markets with external trade deficits
, they repaid debt; facing a collapse in housing and stock prices, they increased savings.
A plethora of large construction announcements signalled the end of the crisis of confidence caused by the global financial crash and subsequent halting of many projects as over-borrowed
developers failed to finance their dreams.
Once this bureau goes live there will be consequence for a short period," he said, explaining that banks will stop lending because they will discover that every single customer has over-borrowed
There is certainly a serious problem that most Western economies are massively over-borrowed
and at some point in the future people in Greece, Ireland and elsewhere in Europe as well as the UK and US will have to come to terms with the fact that we can't keep spending more than we earn.
The government grant comes from national taxes but since Labour previously vastly over-borrowed
, too much goes on interest payments and there is less available for services.
To default and restructure remains the best economic option for the union's over-borrowed
states, but it tarnishes the continent's grandiose geopolitical vision.
The record low interest rates have saved many of those who are over-borrowed
, allowing this debt to be serviced.