LONDON, England - May 13, 2010 - Now that the Greek debt crisis has been "fixed" by a gigantic pile of more debt, many are wondering which European nation will be next to experience a massive debt crisis.

Increasingly, all eyes are turning to the U.K. and their public debt that is spiraling out of control. The U.K. government's deficit is projected to be approximately 13% of GDP in 2010, which is even worse than Greece's 12.5% figure.

Right now the public debt of the U.K. is "only" at 68% of GDP, but three years ago it was sitting at about 40%, so as you can see the national debt of the U.K. is absolutely exploding in size. In fact, it is now being projected that the public debt of the U.K. will exceed 100% of GDP within the next three years. Considering the fact that citizens of the U.K. are some of the most highly taxed people in the world already, there just is not much room for raising more revenue.

So obviously there is a problem.

A massive, unchecked, out of control problem that threatens to blow out the entire U.K. economy.