Would anyone update me on thefinancial scene in UK, I am getting snippets suggesting the UK is about to go kaput. Pretty serious concerns of full bankruptcy like Icelan, my family went on its usual vacation to Maldives- a big Brit/German/Swede tourist haunt for the reasonably rich and better noble, there were virtually no Brits this year.

 

Nah. Wouldn't have thought so. There are economies that will do far worse than Britain during this economic turmoil. Just look at the economic figures in the December quarter from Europe, Germany's economy contracted 2.5%, Italy 1.8%, France 1.5%. Spain is heading for 20% unemployment. Ireland is in all sorts of trouble; indeed if anyone might go bankrupt it will be Ireland or Spain, possibly both. 

 

Furthermore, just the other day I was reading the US department of Treasury figures concerning foreign holders of US T-bonds in Nov 2008, it has Britain as the 3rd largest holder [behind China and Japan] of US foreign debt with $360 billion in bonds. They've done very well with the falling pound of course. Make of that what you will.  

 

 

On the other hand, you never can tell.