History of the British national debt both government borrowing and the national debt have risen dramatically, reaching around 70% of GDP by the end of 2012. The origins of the British national debt can be found during the reign of William III, who engaged a syndicate of City traders and merchants to offer for sale an issue of government debt. This syndicate soon evolved into the Bank of England, eventually financing the wars of the Duke of Marlborough and later Imperial conquests. The establishment of the bank was devised by Charles Montagu, 1st Earl of Halifax, in 1694, to the plan which had been proposed by
Reign of Cleopatra Reign of Cleopatra The reign of Cleopatra VII of the Ptolemaic Kingdom of Egypt began with the death of her father, the ruling pharaoh Ptolemy XII Auletes, by March 51 BC. It ended with her death on 10 or 12 August 30 BC. Following the reign of Cleopatra, the country of Egypt was transformed into a province of the Roman Empire and the Hellenistic period came to an end. During her reign she ruled Egypt and other territories as an absolute monarch, in the tradition of the Ptolemaic dynasty's founder Ptolemy I Soter (r. 305–283 BC) as well as Alexander