Four more countries face stability pact scrutiny

The European Commission has put Britain and the Netherlands under formal surveillance for letting their budget deficits breach an EU target. It also issued a warning to Italy and said it expected Greece to breach the limit.

In its spring economic forecasts, the commission said Britain and the Netherlands last year broke the 3% of gross domestic product deficit ceiling laid down in the EU's Stability and Growth Pact.

Italy and Greece were in danger of violating the rules this year, the commissio