What if the U.K. simply cancelled the €300B+ of gilts held by the Bank of England, asks Jim...

|By:, SA News Editor

What if the U.K. simply cancelled the €300B+ of gilts held by the Bank of England, asks Jim Leaviss. Overnight, the U.K. debt load becomes more sustainable, and the economy no longer has worries of the QE exit process hanging over it. "Who would be unhappy?" Here's a better idea: Pass a law mandating the FTSE be at 56K instead of 5600.