BBC News reports:
Governments that have borrowed heavily to fight the economic crisis should not accumulate any more debt, the president of the European Central Bank has said.
So why has he said this?
“There is a moment where you cannot spend more and accumulate more debts. We are at that moment,” he said.
The problem will be that interest payments on the debt will make it impossible to maintain government spending and cause further economic decline as well as having implications for future generations.
