{"id":499044,"date":"2010-04-01T07:00:57","date_gmt":"2010-04-01T11:00:57","guid":{"rendered":"http:\/\/www.businessinsider.com\/uh-i-take-back-that-thing-about-the-uk-about-to-explode-actually-the-uk-will-do-well-2010-4"},"modified":"2010-04-01T07:00:57","modified_gmt":"2010-04-01T11:00:57","slug":"um-i-take-back-that-thing-about-the-u-k-about-to-explode-actually-the-u-k-is-awesome","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/499044","title":{"rendered":"Um… I Take Back That Thing About The U.K. About To Explode, Actually The U.K. Is Awesome"},"content":{"rendered":"

\"billgross\"<\/p>\n

Back in January, Bill Gross described the U.K. debt situation as sitting on a pile of nitroglycerine<\/a>.<\/p>\n

The U.K. debt office was quick to retort that they were ‘very comfortable’ sitting on nitroglycerine<\/a> and that in fact the U.K. would pull through just fine.<\/p>\n

They argued that, unlike Greece, they have their own currency, the pound, which can act as a shock absorber by depreciating according to the U.K.’s situation.<\/p>\n

Well now, just two months later, Bill Gross has done a 180 and come around to the U.K. debt office’s view:<\/p>\n

Investment Week:<\/a><\/p>\n

Pimco managing director Bill Gross, who in January said gilts were “resting on a bed of nitroglycerin”, now believes the UK is “decently positioned” to escape its debt crisis.<\/strong><\/p>\n

While the UK remains on Pimco’s ‘must avoid’ list, he says Britain has some advantages over Greece in the fight to avoid similar debt pressures.<\/p>\n

Gross believes by having its own currency and proactive central bank, as well as improved demographics, the UK is in a far stronger position.<\/strong><\/p>\n

…<\/p>\n

“For now though, ‘crisis’ does not describe their current predicament<\/strong>, yet that bed of nitroglycerine must be delicately handled.”<\/p>\n

The U.K. isn’t out of the woods, but it’s looking far better to Mr. Gross than before.<\/p>\n

Join the conversation about this story »<\/a><\/p>\n

See Also:<\/b><\/p>\n