THE TELEGRAPH: The new Government must tackle the country's rising debt level as a top priority, the European Commission has warned, as figures show public borrowing is the highest in the EU.
Europe's economic and monetary affairs Commissioner, Olli Rehn, was speaking after unveiling EU economic forecasts which show the stirrings of an economic recovery across Europe.
Latest forecasts show Britain's debt at 88% of GDP in 2011/12, well above the eurozone permitted maximum of 60%.
Britain's annual deficit is also running at more than four times the eurozone permitted ceiling of 3% of GDP. >>> | Wednesday, May 05, 2010
