Re: Didn't understand
Well yes. Credit ref agencies have downgraded UK, so the mind-blowingly humungous national debt just became more expensive to service. So the oft-quoted 350 million a week to EU could start to seem like chicken-feed compared to debt interest.
Then the banks starting with BofE may feel the squeeze then consequently the mortage lenders. So up go interest rates. Those poor folk who have got tracker mortgages up to their hilt to buy a home, have maxed out credit cards to furnish and equip, new car on PCP, deposit paid on holiday and young children are the new repossession victims.
Biting the hand that feeds IT
