Britain hopefully wont't need bailing out because its debt obligations are more long term, its credit rating remains strong so interest payments are low, and its tax collection is pretty efficient and, depsite the moaners, it has an economy based on firmer foundations than olive oil, tourism and registering a few ships. However, similar to Greece, Britain does now have a way too big Public Sector payroll built on debt over the last few years and largely done so out of political expediency. This will need to be trimmed significantly, which will be painful and the false expectations set up by Gordon's spending spree based on 'no more boom and bust' and - swallow this hard Guardian readers- massive tax revenues largely off the back of those awful bankers will now be shattered, painfully. We're back to Mr Micawber. Edited 'cos even I don't like a split infinitive