Do you think a national bankruptcy in the UK would be possible or realistic?

I have just read this article here:

http://www.dailymail.co.uk/debate/columnists/article-1121427/PETER-OBORNE-We-8217-nation-brink-going-bankrupt.html

What do you think?

Bankruptcy can also be good:

- your debts vanish when money becomes worthless

- only when a government becomes bankrupt, it is possible for proper reforms and changes

I think the following countries could soon be on the brink of going bankrupt:

- Iceland
- Ukraine
- USA
- Japan
- UK
- Spain
- Germany

First off you have to consider that the Daily Mail is never really all that reliable a source. Their business plan is generally based on making people scared and miserable.

A bankrupt country? There are actually no small numbers of them about. Search for "third world debt" in news.google.com to find good examples.

Britian has gone backrupt before, with the most recent example being the aftermath of the Second World War. It was a war that, on paper, we were in no condition to fight and we paid dearly for it.

To counter it we extended war-time rationing into peace-time and set up an export drive. To pacify our main creditor, America, the dollar replaced the pound sterling as the world currency.

However that article won't want to discuss this because it might evoke the war-time spirit. No does it want to discuss the advantages of everyone not loosing their savings at a single stroke.

What we are seeing is a gamble that a lot of countries, globally, are buying into. Gordon Brown is either saving the world or showing that the road to hell is indeed paved with good intentions.

may i reccomend going to google and typing in the following without hyphons "zeitgeist the movie"
you will find 2 very interesting and informative documentaries which many people are finding to be eye opening. there are two movies "zeitgeist" and "zeitgeist addendum" you should watch them in that order. they are long and well produced. watch them and then look around the world you live in!
incidentaly apparently zeitgeist is german for spirit of our time or something like that

just realise you can post links here so here! ave it http://www.zeitgeistmovie.com/