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Sarkozy announces 26 billion euro stimulus package
(SomaliNet) French President Nicolas Sarkozy has announced a 26 billion euro stimulus plan to support his country's faltering economy.
26 billion Euros? Pah, our Federal Reserve can go through that in a day ...
Ten billion euros are to be spent on infrastructure projects. Four billion euros will go to higher education, sustainable development and the defence industries. The housing and automobile sectors will receive almost three billion euros.

The plan means that the French budget deficit will increase to 3.9 percent. According to European Union rules, an EU member's budget deficit may not go over three percent. However, member states are being permitted to exceed this limit because of the financial crisis.
Posted by: Fred 2008-12-06
http://www.rantburg.com/poparticle.php?ID=256657