Cameron Says U.K. Running the Risk of Debt Default

Bloomberg
"“You run the risk of not being able to meet your obligations,” Cameron said at an event in London with Nassim Nicholas Taleb, author of “Black Swan.” “I’m not predicting that it’s going to happen, but as government borrowing goes up and up and up, you start running that risk.”In April, the Treasury said it will borrow 269 billion pounds ($437 billion) more than previously forecast as the recession cuts tax revenue. This year’s shortfall, 12.4 percent of gross domestic product, is the most in the Group of Seven.In May Standard & Poor’s warned that the U.K. may not be able to keep its AAA credit rating as its debt nears 100 percent of gross domestic product, or $2.1 trillion, changing its view to “negative” from “stable.”