I'm Off
A truly "bankrupt" country would not be able go on spending hundreds of millions on a NHS, supporting banks and helping out other countries.
Defence funding is, as always, down to political priorities. Last October the deficit and not Defence was the priority in this country. Bar Afghanistan, SDSR painted a pretty rosy picture of the world until 2020 to then justify cuts. Recent events in the Middle East have now shown that the Treasury/FCO/MOD assumptions are flawed and need to be reviewed or at least should by any responsible Government with interests in the areas now likely to be affected.
Can HMG really carry on as if nothing has changed?
