Germany’s Chancellor Angela Merkel does not think Germany needs any more economic stimulus measures, resisting pressure from the U.S. to do more to combat the global recesson.
The German government has already agreed twin stimulus packages worth 81 bln euros which it plans to implement over the next two years. Merkel says this is a “considerable contribution, which must now take effect” adding “that is why we don’t think we need to draw up new stimulus packages.”
It looks like being a lively G20 meet next month when the U.S. tries to pressure European nations into spending more on fiscal stimulus.