Germany’s position on responding to the recession is winning out in the EU. The working papers of the Economic and Finance Committee prepared for the Ecofin meeting are reported in FT Deutschland. It is argued that it is now time to plan an exit strategy and agree on a binding plan to reduce deficits. 'Europe’s finance ministers are determined to decide a fiscal exit strategy as early as Tuesday, in time for the June 19 EU summit.' France wants to wait until September before reining in stimulus measures on the grounds that deficits are due to lower tax receipts not discretionary fiscal measures.
The Saviour of the World has just been foiled in implementing a potentially disastrous programme of discretionary fiscal measures by being too weak to sack the Chancellor of the Exchequer. ('Beefing up' the Department of Business, reported in the FT on the reshuffle, by adding parts of the Department for Innovation, Universities and Skills such as responsibilities for science and possibly skills, is no substitute for holding the Treasury.) Now the Europeans aren't going to do as he wants either. The G20 days of glory were confined to Docklands.
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6 comments:
hang on, did you actually want him to get rid of darling? if that had happened then he would only have pursued his own demented policies even further.
No Roy, I was noting that he is a bundle of foolish lies starting from what he's done since 1997 right up to his silly claims that the world would be following his recipes for coping with the disasters he has done so much to make worse in England.
I think he should be taken to a place of safety - safety for us, and from himself.
do you have any link related to the ecofin meeting working paper?
17.06. If you would hang on for a bit, and can't find it in FT Deutschland, I'll look in Mr HG's computer, where I picked it up, later. He's out and even I won't prance about in there without his ok.
Cool thanks a lot!
I also saw the story about it in EuroIntelligence but they dont mention a link either.
hey HG, I have looked over the FT Deutschland website but couldnt find anything (my German is a bit rusty so I might have missed it). I am really interested in this story and I would be interested to check out the full thing. Thanks a lot.
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