Brits owe most in Europe

30 November -0001

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Brits have the highest level of personal debt in europe, according to Market analyst Datamonitor

New research from the company showed that the average Brition owed £3'034, in unsecured debt, such as credit cards, loans and overdrafts. That's almost £1'000 more the Germans, who are the second most indebted nation in Europe, with £2'037 of personal debt, per capits.

Author of the report Maya Imberg said, "Attitudes towards borrowing in the UK are very positive and the propensity towards saving is generally quite low."

But she also said that the marked was likely to be far more subdues going forwards, as lower house price growth and and poor retail sales figures had dented the confidence of both borrowers and lenders.

the study found that the country with the lowest level of personal debt was Italy, with jusy £742 each, on average.

Borrowing soared in the UK over the last 5 years, rising by 41% since 2000. By comparison, in Germany, borrowing rose by just 6/7% in the same period

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