Monday, March 30, 2009

G20: Any chance of consensus?

Germans wreck ‘global new deal’

GORDON BROWN’S carefully laid plans for a G20 deal on worldwide tax cuts have been scuppered by an eve-of-summit ambush by European leaders. Angela Merkel, the German chancellor, last night led the assault on the prime minister’s “global new deal” for a $2 trillion-plus fiscal stimulus to end the recession. “I will not let anyone tell me that we must spend more money,” she said. Merkel’s criticism drew an angry response from Labour MPs. Denis MacShane, the former Europe minister, said: “Who does Mrs Merkel think is going to buy Mercedes and BMWs if she . . . says putting demand into the economy is a bad thing?” Another Labour MP said: “One has to ask who had something to gain from the leak of the communiqué. This feels like a dirty trick.”

Posted by devo @ 07:24 AM (1121 views)
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6 thoughts on “G20: Any chance of consensus?

  • This is typical quasi nationalist Times/Sun press looking for another nation to blame if it all goes “wrong”. Trouble is, WRONG is where we were led to the huge money supply expansion in the UK that has caused the pain. Interesting is that even the Spanish – not a healthy property market – also agree. From becoming a nation of “tax and spend”, it’s now “borrow and spend”. I don’t see any management.

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  • waitingfor hpc says:

    I am with the Germans – they make better cars and everything than us – who will buy their products well EVERYONE – they are a status symbol of quality and reliability!

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  • Stop the easy money !!!

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  • charlie brooker says:

    Pesky Germans having the audacity to exercise sovereignty over their own affairs.

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  • Ted The Red says:

    To Waiting for hpc
    Re German cars , I beg to differ I’ve got a newish BMW and its not remotely as good as its reputation would suggest. Hard ride, poor fuel economy, mysterious defects.
    Some status symbol.

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  • Ive work as a consultant for 12 years. For most of the major, Multinational German and French Engineering companies, all of whom have offices in the UK.
    Last November, all of my clients froze spending in the UK completely. I am in regular contact with Directors. This has not changed in the last 4 months.
    Its been pretty obvious, since last November, and there were many signs, that Germany and France would utterly reject any Inflationary, [Immoral] so called ‘solutions’ offered by the UK government.
    So is our government really that incompetent?! I find it very hard to believe, that Brown believed for an instant that Germany and France would agree to their measures.

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