Brussels, 11/06/2008 (Agence Europe) - In adopting a report on the public finance situation in the United Kingdom (Article 104 §3 of the treaty), the Commission, on Wednesday 11 June, decided to initiate a fresh excessive deficit procedure against the UK. Over the year just past, the United Kingdom deficit came dangerously close to the Stability and Growth Pact (SGP) reference value. Despite sustained growth, the deficit rose from 2.6% in 2006-2007 to 2.9% of GDP in 2007-2008. The figures...