We have bailed out the Irish banks, we are now about to borrow more money from the IMF to bail out the German banks and pay for the 30% deficit we are running. By the time everyone has got their pound of flesh how big will our national debt be?
Well, as a bit of depressing fun, €90bn (90 thousand million, 90,000,000,000), in €1 coins, laid end to end, would circle the globe at the equator over 52 times, or reach the moon nearly 5 and a half times !
Big,big difference
The UK and US debt is in their own currency.These countries can just print the money to service their debt, which is exactly what they are doing.
Ireland hasn`t that option and never will have even if we had our own currency as no one would want the irish currency.