Britain tops bank bail-outs with nearly 20% of GDP (The Guardian)

JP45

There's an interesting article from Stephanie Flanders on the cost of the bank bailouts, based on the IMF reports.

It's obviously impossible to say for sure what the ultimate cost to the UK taxpayer will be, but the IMF has taken a stab and come up wiith a net cost of around 9% of GDP. That compares to an average for the G20 economies of just over 7%, of which the US is the highest at just under 13% of GDP.

The IMF reckons that by 2014, UK public debt will have risen to 77% of GDP; US debt will be touching 100% and Japan's debt will have reached 222%.

http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/