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The UK is bankrupt.
It has been bankrupt since WWI and definitely after WWII.
It did not complete repayment to US for loans for WW1-2 until December 2006.
Thatcher's policies looked good on paper because North Sea oil was just coming on stream.
North Sea oil is now empty.
Britain will be the first major Western power to collapse and Japan the second. Followed by North America very shortly afterwards. Within 25 years maximum.
UK is not bankrupt. Scotland and Northern Ireland are bankrupt and rely on England to foot their bills. The Anglo-American loan were loans that last 50 years (UK had 50 years to pay it back) and was given with special status in which UK could delay payments when it suited their preference in the exchange rate, they delayed payments 6 times. They actually paid all the debt per the rules of the agreement.