an all-time high. we learned just a couple days ago it s now in excess of 22% and its budget deficit is likely to have surpassed 8% in 2011. that is well ahead of a 6% target. that, again, was an unwelcome surprise. well now we want to look ahead to what those austerity measures could include. we ll know for sure a couple hours or so but for now, al goodman joins us from our madrid bureau. al, what are we expecting? reporter: i had, charles. we re expecting them to be talking about more austerity measures but as they did last friday when they said they would be talking but not implementing too many austerity measures there could be surprises that seems to be a trademark of this young government which just took power a few weeks ago. last friday, they did a nearly $20 billion package of austerity cuts and tax increases. the tax increase was on the income tax. that was a surprise to many people. critics say it will hit the
to 14 years in prison for the murder of a black teenage, stevon moore, at least two decades ago. the judge said they committed a terrible and evil crime because of racial hatred. they were convicted with new forensic evidence that was not available back then. for the first time in more than 50 years, a british foreign secretary is in myanmar. william hague is meeting with government officials bringing a message of reform and offering britain s help. he s also meeting with pro-democracy leader aung san suu kyi. her party has been re-establi re-established and will be part of elections in april. those are the top stories from cnn. world business today starts right now. good morning from cnn london. i m charles hodson. and good afternoon from cnn hong kong, i m andrew stevens. you re watching world business today. our top stories this thursday, january 5th european investors are on edge as greece sounds the alarm and france faces a big test on the bond markets. a