Britons reduced their mortgage debt by £7 billion during the second quarter of the year, figures have showed. Recent falls in house prices and the economic downturn have put people off taking money out of their property, leading to equity withdrawal being negative for the fifth quarter in a row.
Sarkozy’s ‘Grand Loan’ to Pile on Record French Debt (Correct) (Bloomberg)
(Corrects to remove forecast for debt level including extra borrowing in 18th paragraph.) Sept. 30 (Bloomberg) — French President Nicolas Sarkozy says that even with a record budget deficit, France needs to spend more borrowed money to kick start economic growth.
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