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SMF Blogs > SMF European Analysis > March 2009 > Europe rejects extra stimulus package

Europe rejects extra stimulus package

 

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SMF reports European inisters said on Monday they had no plans to add to recent fiscal stimulus packages despite calls from the US for radical expansions in government action to boost ailing economies.

Meeting in Brussels, finance ministers from the countries in the eurozone said they wanted first to see the effect of stimulus packages that had been passed.

Peer Steinbruck, the German finance minister, said: "We are not debating any additional measures."

He said that Germany had recently passed a second stimulus package worth EUR 50 bln ($63 bln, GBP 46 bln) and was also counting on the automatic fiscal stabilisers that increase government spending in a downturn.

Jean-Claude Juncker, chair of the "eurogroup" of ministers, said: "The 16 finance ministers agreed that recent American appeals insisting Europeans make an added budgetary effort were not to our liking."


 

Prepare yourself for the "New Economy"


 
Posted: 3/10/2009 7:24:47 AM by StockMarketFunding | with 0 comments


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