Germany's robust economy not enough to stop record debt

Germany is facing a record level of debt this year despite its economic recovery being better than expected, the finance ministry said today.

Federal debt in Europe's biggest economy will hit a new high despite the government requiring less than 50 billion (£42 billion) new borrowing for the year, a drop of 30 billion on initial expectations, the ministry said in its monthly report.

"The government will however be required to record the highest level of indebtedness in the history of the federal republic, in order to counter the effects of the economic and financial crisis," it said.

The German taxpayers association estimates debt levels to be around 1.7 trillion (£1.4 trillion). EU data collected by Eurostat estimates total debt of 1.9 trillion for the year, or 75.4% of GDP.