I think they are hoping for hyper inflation to wipe out the debt. Little problem is, the world is going to be deleveraging for a good 2-3 years yet, whilst the BOE is going to hit the QE buffers pretty soon with the bond investors.
Pretty much, we are well and truly F*cked.
Doesnt matter though, because all those daily mail readers will have houses worth three squillion pounds each.
Shame it didnt work out for Zim so well....
Biggus, we are only paying off interest only at present. The sad fact is, I bet some of the cash is being borrowed to pay off the interest. Nice.