Britain Takes a Round to the Chest

From the Express -

US-based investment group Pimco, one of the world’s leading bond houses, said it will sell its UK government gilts this year. It will be a hammer blow to the Treasury’s attempt to raise up to £200billion of government borrowing amid the deficit crisis.
Experts fear the debt will damage Britain’s international credit rating, leading to concerns that investors will simply not be ­prepared to risk putting money into shoring up the government.
It could mean the country effectively going bankrupt, with the Government being forced to plead for aid from the International Monetary Fund.

The Real Effect
No way! Who would have seen that coming?

...with the upcoming housing market slowdown, the decline in personal savings, increase in household credit debt and many other economic factors and Houston, we have a major problem brewing.

and

European Union -They will be hit by this economic downswing, but where the US will be ravaged by this downturn, the EU will "weather the storm" precisely because they are the EU.