UK to become USA’s cute pet.

by | May 12, 2010 | Economic Intrigue, Politics, UK Misery

At least according to one commenter at Zero Hedge :

I volunteer to the kicking them out party. We continental Europeans (part of Greater Germania now) donate UK to the US as 51st state or as cute pet.

We also have a US centric view of UK cusine :

Soon you will be able to combine American unhealthy cuisine with English bad tasting tortured fish and Scottish overboiled rotten lamb.

In case you were wondering, those comments are in relation to this little snippet about the surge in CDS protection being bought against the UK:

As we pointed out last week, nobody cares about either Greece or the PIIGs any more. The focus among the smartest money out there, in the face of CDS traders, for the third week running, is on the core of Europe, and specifically on the UK. Last week the net notional derisking in UK was a massive $1,063 million in 280 traded contracts, which according to our files is the single biggest one week derisking amount on record. all the Greek “speculators” are now focusing their attention squarely on the UK… and France, which came in second with $384 million in derisking. Incidentally, these two represented the greatest amount of of derisking in all top 1000 CDS reference names (third altogether was not surprisingly Goldman Sachs with $256 million). The bet is now squarely on that the PIIGS contagion will move to the UK, and that France will also not be spared. We wish Mr. Cameron all the best as he attempts to push the $50 billion austerity measure through. We have a feeling his popularity rating in under a year will be even lower than that of president Obama.

Looks liek out new PM is in for an interesting time.

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