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Sunday, March 15, 2009

Merkel rejects calls for new stimulus package

German Chancellor Angela Merkel voiced opposition Friday to a new package of economic stimulus measures US officials have called for as world leaders prepare for G20 meetings in Britain.

"We do not think much of the idea of a new package of measures" to underpin the economy, Merkel told a press conference in southern Munich after meeting with top German employers and business leaders.

Splits have emerged ahead of a meeting near London Saturday of Group of 20 finance chiefs, with the United States and Japan backing more stimulus spending and European leaders pushing tougher regulations as the best way out of the global economic crisis.

The G20 includes the Group of Seven industrialised countries -- Britain, Canada, France, Germany, Italy, Japan and the United States -- the European Union and leading developing nations including Brazil, China and India.

From The Daily Star



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