NEW YORK ( TheStreet) -- After the Greek debt debacle that has wreaked havoc on the eurozone, other countries with large government debt are now also being watched with concern. The U.K. is no exception and many are left wondering if the new coalition government led by Prime Minister David Cameron will be able to reign in the country's government debt.However, comparing the United Kingdom to Greece is not exactly fair when one takes into account the fact that the U.K. has its own currency. Part of Greece's problem was that it uses the euro, but does not control it. Greece cannot use currency devaluation to ease its debt burden and without aid from other eurozone members, it would be forced to leave the euro or default on its debt. The United Kingdom, on the other hand, can choose to devalue the pound, if necessary.
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