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Germany and France reject Brown's global economic recovery plan
Gordon Brown's hopes of uniting the world's most powerful economies behind a massive new package of tax cuts and public spending increases were in ruins today after he failed to persuade France and Germany to back his plan to revive the world economy.After talks at Chequers to prepare the way for next month's G20 summit in London, Angela Merkel, the German chancellor, ruled out ordering another short-term "fiscal stimulus" and made it clear that if more action was needed, it would for the Berlin's Bundestag to decide, not the G20. Her comments were echoed by the French finance minister, Christine Lagarde, at a meeting of G20 finance ministers in Horsham, West Sussex. As ministers tried to agree a joint way forward, Lagarde said she was optimistic the meeting could make progress but that nations needed to "evaluate the remedies already put in place by each of us" before ordering huge extra spending on top of that already sanctioned. Posted by: Fred 2009-03-15 |
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