EU27 public debt could rise to 100% of GDP by 2014; Eurozone forecast to grow 2% in 2010 and 1.5% in 2011
Nov 9th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Union’s (EU27) public debt could rise to 100 percent of GDP (gross domestic product) by 2014 - - a full year’s economic output - - unless governments take firm action to restore fiscal discipline, EU finance ministers will be warned today. Meanwhile, German insurance giant Allianz and the Lisbon Council, a Brussels-based think tank, say that the Eurozone could grow 2.0 percent on average in 2010, followed by a slightly slower expansion of 1.5 percent in 2011.