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UK has a high debt load and is now more isolated than it was. Those are problematic when they are tied together. But I think that what is a major bonus for th
by bhouston 10y ago
UK has a high debt load and is now more isolated than it was. Those are problematic when they are tied together. But I think that what is a major bonus for the UK is that they control their own currency and possibly their debt is issued in UK Pounds (is it?) -- that could be very useful in making their exports attractive if shit hits the fan.
If their debt is not in UK Pounds, it will limit their economic flexibility severely, and I think could lead to a default if things go bad (which we are currently quite far away from right now.)
Thus is the UK debt in UK Pounds? Or is it mostly denominated in Euros, Yen or USD?
- jacquesm 10y agoThe UK national debt is all in Pounds. But whether or not that is an advantage is hard to establish, that all depends on how much of an export position the UK will have post brexit.