UK doesn't have the euro to start with. They have their own monetary system so it differs from all the other countries in the EU. Yes you live on an Island and are special ;)
The other EU countries just do an audit of existing loans, employment history, income, ...
If you miss payments you end up getting blacklisted for loans in the future. So we use some form of credit rating.
Out of the 27 countries in the EU, 10 still retain their own currency. The UK is in the minority, but it isn't the only country outside the Euro.
So given you've gotten that little detail wrong, forgive me if I'm a little dubious that the UK is the only EU country with personal bankruptcy and credit ratings!
The other EU countries just do an audit of existing loans, employment history, income, ...
If you miss payments you end up getting blacklisted for loans in the future. So we use some form of credit rating.