The Brussels Commission will propose to Twenty-Seven, next Wednesday, a coordinated plan to boost the amount of which should reach 130 billion euros, or 1% of EU GDP. In any case the amount advanced yesterday by the German Minister of Economy, Michael Glos. According to him, each Member State "should contribute as much as 1% of GDP" in this package, which will include aid for the automotive sector in great difficulty. Information confirmed yesterday evening, unofficial sources in Brussels, although details of the measures is not yet completely stopped.
Yesterday evening, Bercy said he "does not confirm at this stage, the amount of 130 billion euros. The package would be made up of funds as loans or the European Social Fund and national contributions, all of which are coordinated at European level.
IMF forecasts bleak
This plan should satisfy the Director General of the International Monetary Fund (IMF), which calls for months of fiscal plans in developed countries to support economic activity declining. Passing through Paris yesterday, Dominique Strauss-Kahn has engaged in an exercise lesson on economic and financial crisis world before the Economic and Social Council. He drew a grim picture of the global economy. The IMF does more now that global growth of 2.2% in 2009. But all developed countries should experience a contraction of GDP, a "never seen since the Second World War." He took the opportunity to complete an already moribund, there will be no "decoupling" between developed and emerging countries, all will lose, on average, three points of growth.
While commending the central banks for their quick injection of cash, the Managing Director of the IMF has helped in handling the unspoken, to criticize the European Central Bank. "It is unclear why the interest rate would be 1% in the United States, unless it in Japan, and would be in other locations as high as it is," he lamented, before consider that "a forecast inflation to zero is reasonable."
He also called for a reform of global governance, especially considering that the G8, great idea at the outset, is now mired in the throes of bureaucracy and "has lost its effectiveness and, I say friendly ". We must, he argued, that body is responsible for verifying the implementation of decisions taken in this circle, before calling for vigilance in the political situation. Noting the "tension" between globalization and "national sentiment", it believes that the issue of debate is now more "geopolitics" than "technical".
Yesterday evening, Bercy said he "does not confirm at this stage, the amount of 130 billion euros. The package would be made up of funds as loans or the European Social Fund and national contributions, all of which are coordinated at European level.
IMF forecasts bleak
This plan should satisfy the Director General of the International Monetary Fund (IMF), which calls for months of fiscal plans in developed countries to support economic activity declining. Passing through Paris yesterday, Dominique Strauss-Kahn has engaged in an exercise lesson on economic and financial crisis world before the Economic and Social Council. He drew a grim picture of the global economy. The IMF does more now that global growth of 2.2% in 2009. But all developed countries should experience a contraction of GDP, a "never seen since the Second World War." He took the opportunity to complete an already moribund, there will be no "decoupling" between developed and emerging countries, all will lose, on average, three points of growth.
While commending the central banks for their quick injection of cash, the Managing Director of the IMF has helped in handling the unspoken, to criticize the European Central Bank. "It is unclear why the interest rate would be 1% in the United States, unless it in Japan, and would be in other locations as high as it is," he lamented, before consider that "a forecast inflation to zero is reasonable."
He also called for a reform of global governance, especially considering that the G8, great idea at the outset, is now mired in the throes of bureaucracy and "has lost its effectiveness and, I say friendly ". We must, he argued, that body is responsible for verifying the implementation of decisions taken in this circle, before calling for vigilance in the political situation. Noting the "tension" between globalization and "national sentiment", it believes that the issue of debate is now more "geopolitics" than "technical".
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