Telegraph: Reports that the UK Government could not sell all its UK Gilts, Gilts are like Premium Bonds, investors buy them and get an interest, the Government gets the money to spend. This development is not surprising, as the Governor of Bank of England has stated that the UK Government can not afford to spend more money to get the economy out of the present recession. Thus we are seeing a conflict between the USA under President Obama who wants to spend money and the EU who want to regulate the system without the spending. In this case the EU is right, if you think about it Obama has made sure that the USA will be in debt for generations. The EU sees this policy as a mistake, thus don't expect much agreement at the G20 conference.
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