December 1, 2008
Europe torn over recovery plan
European Union member nations appear torn over a $252.5 billion economic recovery plan Monday in advance of a meeting in Brussels set for Tuesday.
France and Britain are pushing for a large-scale response to the economic slowdown, but Germany, representing the region's largest economy, is balking at the concept, the Financial Times reported Monday.
lemmingsrushing to throw themselves over a cliff.
Luxembourg, the Netherlands, Poland and others appeared ready to side with Germany, the Times reported.
French President Nicolas Sarkozy chided Germany, saying France was
working on a stimulus package, while Germany was
thinking about options.
Germany's participation is critical, an EU diplomat said.
Germany is far and away the biggest EU economy and a major source of demand for exports from other EU states. The more demand in Germany, the more growth in Germany, the better for all of us, the diplomat said.