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What would happen if the UK tried to, or did, repay its national debt?
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What would happen if the UK tried to, or did, repay its national debt?
There were quite a lot of heated, and sometimes furious responses on LinkedIn to my suggestion in a recent video that concerns about the level of the national debt in the UK were completely misplaced because the UK could never go bust. That was because, as a matter of fact, the UK government could always create the sterling currency required to repay the UK’s national debt whenever it wished. Those responses made me think that those commenting c…
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