3.7 billion GBP since 1996

Scottie · #1 10-04-2006, 09:18 AM

Ok so they are talking about it on todays news. We the UK have paid America 3.7 billion GBP in the last 10 years for WWII.

God knows how much it will actually be when you take the payments all the way to 1945.

So we paid America to fight in WWII did we pretty expensive mercenaries

so will America be paying UK for fighting in Iraq.???

WTF

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Wagner · #2 10-04-2006, 09:41 AM

Ha, not even close to the same comparison. But I'm sure we will have mega statisticians posting to this. N.America is owed so much money from WWII it isn't even funny.

One view, the Iraq war is not the USA fighting to keep its country where as in WWII...German would be your language of choice in the UK now if N. America didn't get physically involved.

fln8tive · #3 10-04-2006, 03:40 PM

Ooooh, this could get interesting...which to get first, popcorn or bandages?

Eh, what's a few billion between friends?

BMW X5 · #4 10-04-2006, 03:42 PM

BMW X5 · #5 10-04-2006, 03:42 PM

yay i'm first to the show wohooo

Scottie · #6 10-04-2006, 03:43 PM

well I had typed a big long reply but then I thought WTH and pressed the back button

ylwjacket · #7 10-04-2006, 03:45 PM

Looked on BBC and couldn't find it. Do you have a link? Might be interesting reading.

OK, I think I found it. From BBC:

On 31 December, the UK will make a payment of about $83m (£45.5m) to the US and so discharge the last of its loans from World War II from its transatlantic ally.

It is hard from a modern viewpoint to appreciate the astronomical costs and economic damage caused by this conflict. In 1945, Britain badly needed money to pay for reconstruction and also to import food for a nation worn down after years of rationing.

"In a nutshell, everything we got from America in World War II was free," says economic historian Professor Mark Harrison, of Warwick University.

"The loan was really to help Britain through the consequences of post-war adjustment, rather than the war itself. This position was different from World War I, where money was lent for the war effort itself."

The post-war loan was part-driven by the Americans' termination of the scheme. Under the programme, the US had effectively donated equipment for the war effort, but anything left over in Britain at the end of hostilities and still needed would have to be paid for.

But the price would please a bargain hunter - the US only wanted one-tenth of the production cost of the equipment and would lend the money to pay for it.

As a result, the UK took a loan for $586m (about £145m at 1945 exchange rates), and a further $3,750m line of credit (about £930m at 1945 exchange rates). The loan was to be paid off in 50 annual repayments starting in 1950, although there were six years when payment was deferred because of economic or political crises.

Generous terms

It's easy to cough and splutter at the thought of our closest ally suddenly demanding payment for equipment rather than sparing a billion or two as a gift.

But the terms of the loan were extremely generous, with a fixed interest rate of 2% making it considerably less terrifying than a typical mortgage.

And while the UK dutifully pays off its World War II debts, those from World War I remain resolutely unpaid. And are by no means trifling. In 1934, Britain owed the US $4.4bn of World War I debt (about £866m at 1934 exchange rates). Adjusted by the Retail Price Index, a typical measure of inflation, £866m would equate to £40bn now, and if adjusted by the growth of GDP, to about £225bn.

"We just sort of gave up around 1932 when the interwar economy was in turmoil, currencies were collapsing," says Prof Harrison.

Doesn't seem like much in the way of news.

6to · #8 10-04-2006, 05:57 PM

Quote:

Originally Posted by Scottie

well I had typed a big long reply but then I thought WTH and pressed the back button

Hey Scottie, Love your new Avatar !!

Scottie · #9 10-04-2006, 06:08 PM

Quote:

Originally Posted by 6to

Hey Scottie, Love your new Avatar !!

wait till you see the next one i've got lined up.

6to · #10 10-04-2006, 06:15 PM

Quote:

Originally Posted by WagnerX5

...German would be your language of choice in the UK now if N. America didn't get physically involved.

Well, I for one have to say that 60-odd years later, we're all becoming Germanized in the European Union, without the need of force.

This announcement will put things in Perspective to any Euro-Skeptics:

The European Commission has just announced an agreement whereby English will be the official language of the European nation rather than German which was the other possibility. As part of the negotiations, Her Majesty's Government conceded that English spelling had some room for improvement and has accepted a 5-year phase-in plan that would become known as "Euro-English".

In the first year, "s" will replace the soft "c". Sertainly, this will make the sivil servants jump with joy. The hard "c" will be dropped in favour of the "k". This should klear up konfusion, and keyboards kan Have one less letter.

There will be growing publik enthusiasm in the sekond year when the troublesome "ph" will be replaced with the "f". This will make words Like fotograf 20% shorter.

In the 3rd year, publik akseptanse of the new spelling kan be expekted To reach the stage where more komplikated changes are possible.

Governments will enkourage the removal of double letters which have Always ben a deterent to akurate speling. Also, al wil agre that the horibl mes of the silent "e" in the languag is disgrasful and it should go away.

By the 4th yer peopl wil be reseptiv to steps such as replasing "th" With "z" and "w" with "v".

During ze fifz yer, ze unesesary "o" kan be dropd from vords kontaining "ou" and after ziz fifz yer, ve vil hav a reil sensibl riten styl. Zer Vil be no mor trubl or difikultis and evrivun vil find it ezi tu understand ech oza.

Ze drem of a united urop vil finali kum tru.

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