Britian really is showing its independence from the Eurocrats today.
And now they are telling the European Commission to drop plans to recommend that Britain move to reduce its growing budget deficit.
The message — Britain is not Greece and won’t put its economic recovery in danger just to satisfy Eurocrats.
BRUSSELS (AP) — Britain’s Treasury chief Alistair Darling says that stronger deficit cuts than those already planned could stifle the economic recovery and be unwise.
Responding to reports that the European Commission is recommending that Britain should move more quickly to reduce its ballooning budget deficit, he said such a move would risk tipping Britain back into recession.
Darling said his 2008 plan to more than half the deficit in four years is “most aggressive plan of any advanced economy.”
He said the EU’s recommendation would take 25 billion pounds out of the British economy.
Business Insider Emails & Alerts
Site highlights each day to your inbox.