Is global debt restructuring now needed

Given that recently the Uk has stabilised its banks financially the four banks that were surveyed passed the stress test reported yesterday

This means that the UK can maintain its credit rating globally.

And those who depending on the pension settlements for current employees (as opposed to new entrants on the new pension arrangements while the UK deficit is being paid back) on redundancy payments afford to live advised by the money advice service can run voluntary activities according to institute of professional development fundraising registration. This is done through each local authority's voluntary services association within england though this may be differently supported in wales and scotland.

In America to achieve something similar they need to pass deficit reduction in order to build infrastructure and maintain payments on government bonds to maintain sovereign debt which since 1970s is the ammendments to Bretton Woods. That is unless there is global debt restructuring agreed through the IMF for sovereign debt in lieu of recent natural disasters and the food situation in East Africa based on what was agreed by the G20 for developing nations.

To paraphrase, the world is in this together. If not that could the retail banks and investment banks seperation be reinforced at the Central Bank level so as to maintain economic stability in areas not yet affected.

To check macroeconomic stability the email address is enquiries@bankofengland.co.uk