
Britain nearly went bust in March, says Bank of England - jxub
https://www.theguardian.com/world/2020/jun/22/britain-nearly-went-bust-in-march-says-bank-of-england
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neilwilson
Given Britain can't go bust as a matter of accounting given it has its own
currency I expected to find an article explaining why the characters
suggesting this are lying.

No such luck.

The Bank of England will alway fund the UK government because the UK
government owns the Bank of England. If Bailey had refused he would have been
sacked.

HM Treasury has those powers under section 19(1) of the Bank of England Act
1998.

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zpeti
Interesting how Italy almost went bust for the reason you mention, if the ECB
wouldn't have stepped in (potentially illegally, which we might find out in
the future), we would have had a eurozone crises.

But of course the guardian never misses a chance to make a conservative
government look bad, despite any other government having done the same.

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ngcc_hk
Is it because ECU is not Italian money but pound is. UK can go bust on, say,
foreign debt. Or UK government can go bust. But UK in pounds?

