Politics.ie
Advertise on Politics.ie

Go Back   Politics.ie > Topical Discussion > Europe

Hey there!

It looks like you're enjoying Politics.ie but haven't created an account yet. Why not take a minute to register for your own free account now? As a member you get free access to all of our forums and posts plus the ability to post your own messages, communicate directly with other members and much more. Joining Politics.ie is completely free. Register now!

Already a member? Login at the top of this page to stop seeing this message.

Europe warns Britain,ireland,latvia of danger of rising debt

This is a discussion on Europe warns Britain,ireland,latvia of danger of rising debt within the Europe forums, part of the Topical Discussion category on Politics.ie. the European Commission classed Britain alongside the struggling Irish Republic and stricken Latvia Brussels turned up the heat on Britain ...

Reply
 
LinkBack Thread Tools Display Modes
  #1 (permalink)  
Old 24th June 2009
Ramon21's Avatar
Politics.ie Member
 
Join Date: Aug 2008
Location: Netherlands
Posts: 746
Default Europe warns Britain,ireland,latvia of danger of rising debt

the European Commission classed Britain alongside the struggling Irish Republic and stricken Latvia

Brussels turned up the heat on Britain yesterday over the Government’s plunge into the red as a result of the recession and the banking crisis.

In a fresh warning shot at the Treasury over its soaring budget deficit, the European Commission classed Britain alongside the struggling Irish Republic and stricken Latvia as the European Union economies whose national finances had been most dangerously hit by the costs of the crisis.

Alistair Darling was again urged to take more urgent and radical measures to bolster the UK’s budgetary position, which Brussels said was set to be even worse next year than the Chancellor has forecast so far as the recession bites harder than the Treasury expects.

“Taking into account the probability of a worse-than-expected deterioration in the UK’s budgetary position in the near-term, and the heightened risks to fiscal sustainability, there is a need for a more ambitious consolidation effort in the medium-term,” a Commission report found.

Brussels forecasts that the Treasury will have to borrow 12.75 per cent of GDP next year — more than £10 billion higher than Mr Darling predicts. It said that the Chancellor should take significant steps to raise taxes or cut spending, starting in the 2010-11 financial year, and set out plans for a longer-term financial improvement.
__________________
The majority of the people of EUROPE are thankfull for this yes vote.
Ireland THANK YOU!
Reply With Quote

Advertise on Politics.ie

Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Quinn warns of danger that Irish schools be taken over by the catholic right aggressivesecularist Education & Science 193 16th June 2009 07:47 PM
Latvia to cut government spending 10%-example for Ireland patslatt Economy 71 14th June 2009 01:14 AM
Migrant warns Africans off ‘misery’ Europe pete2 Current Affairs 3 10th May 2009 05:27 PM
Property prices NI fastest rising in Europe terry666 Northern Ireland 4 11th May 2007 04:52 PM
Britain in Europe west_brit Current Affairs 22 20th June 2005 06:54 PM


Advertise on Politics.ie

All times are GMT. The time now is 09:59 PM.