EU states given stark warning on debt levels
The European Union’s public debt could by 2014 rise to 100 per cent of gross domestic product – a year’s economic output – unless governments take firm action to restore fiscal discipline, EU finance ministers will be warned on Monday. The stark message is contained in a European Commission analysis, which highlights the rapid deterioration in EU public finances caused by emergency measures in the past 12 months to rescue Europe’s financial sector and combat recession. Finance ministers of the 16-nation eurozone will discuss the Commission’s paper at informal talks on Monday evening and it will also be addressed at...
Original Article: Forum: News/Activism
Tags: 12 Months, Debt Levels, Economic Output, Emergency Measures, Europe, European Commission, European Union, Eurozone, Finance Ministers, Financial Sector, Fiscal Discipline, Governments, Gross Domestic Product, Public Debt, Public Finances, Rapid Deterioration, Recession, X92, X96