1.   Elorriaga had Decided to withdraw when Congress refused to support his proposals on taxation and on the refunding of the public debt.

2.   The Maastricht rules also impose strict limits on public debt.

3.   In order to tackle the problem of the escalating budget deficit and increasing public debts the government would pursue a policy of austerity in both public and private expenditure.

4.   With the conversion achieved, the Sinking Fund might, with the lower interest charge, redeem the public debt over twenty-five years.

5.   But his proposals for high rises in the following year were intended to send an unambiguous message to the City that the public debt will be curbed.

6.   That makes it clear that the public debt targets are not rigid, they can be ap applied flexibly to take account of unemployment.

7.   Also, if governments borrow less money to finance deficits, the supply of public debt will shrink as a share of GDP.

8.   Analysts and investors are equally apprehensive about the outlook for public debt, nothwithstanding a draconian budget brought down last April.

9.   Another of the most pressing problem facing Canada is a huge public debt.

10.   At the same time, however, the nonmarketable debt owed the trust funds has been growing even faster than the public debt is shrinking.