{"id":242164,"date":"2010-01-28T12:19:32","date_gmt":"2010-01-28T17:19:32","guid":{"rendered":"http:\/\/www.businessinsider.com\/uk-to-trust-the-market-in-bailed-out-bank-sale-2010-1"},"modified":"2010-01-28T12:19:32","modified_gmt":"2010-01-28T17:19:32","slug":"u-k-decides-to-double-down-on-capitalism-in-bid-to-avoid-joining-the-debt-defaulting-piigs","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/242164","title":{"rendered":"U.K. Decides To Double Down On Capitalism In Bid To Avoid Joining The Debt-Defaulting PIIGS"},"content":{"rendered":"

\"UK<\/p>\n

In a sale of public assets larger than anything seen since Margaret Thatcher’s heyday, Britain hopes to raise much needed cash privatizing banks.<\/p>\n

The debt laden country is attempting to sell part of the 71.5 billion pound ($116 billion) investment<\/a> it made in troubled banks during the height of the financial crisis.<\/p>\n

Pressure for the sale is mounting as Standard and Poors has called the country’s economic stability into question, citing massive debt levels and a beleaguered banking system<\/a> in need of reform.<\/p>\n

They better move fast. Standard and Poors is pointing towards a downgrade for the UK<\/a> that would make raising money for spending more difficult and potentially put Britain on track to join Europe’s PIIGS<\/a>, states which have been brought to the brink by their sovereign massive debt.<\/p>\n

Unfortunately, the opposing parties in Parliament are currently spending more time debating banking penalties<\/a> than solving the potential debt crisis.<\/p>\n

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