Angela Merkel, the German chancellor, last night opposed the “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.
The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit.
The assault by European Union leaders also represents a defeat for Obama, who is desperate for other big economies to copy his $800 billion stimulus mistake; they had the common sense to turn him down cold.
Blog Smith is inspired by the myth of Hephaestus in the creation of blacksmith-like, forged materials: ideas. This blog analyzes topics that interest me: IT, politics, technology, history, education, music, and the history of religions.