Britian's economy was consigned to a list of those at 'high risk' yesterday because of the spiralling national debt.
The European Commission issued a humiliating warning that the worsening budget deficit poses 'serious concerns' that the country will be unable to meet future spending commitments, such as pensions.
The growing number of elderly people threatens to make debt unsustainable and has led to the UK economy being ranked alongside nations such as Latvia, Greece and Romania.
The warning plunged the Government into a furious row with Brussels, as Treasury officials said it called into question the EC's ability to carry out 'credible economic analysis'. (more)
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