Saturday, December 30, 2006

No credit? Bad credit? It's no problem, we write our own loans!

And we need to get a better deal next time. A 60 year term at 2 percent interest?
Britain has paid the last instalment of its World War II-era debt to the US and Canada, with a $100 million payment to its allies.

Britain was left with a debt of $4.3 billion to the US and $1.2 billion to Canada more than 60 years ago, when London took out loans to finance reconstruction.

Annual payments on the loans, taken out at 2 per cent interest, have since totalled twice the original debt in dollar terms.

I am actually shocked that a foreign nation paid off it's debt to us. The Britts are good folks, even if they talk funny.

1 comment:

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