Gordon Brown’s carefully laid plans for a G20 deal on worldwide tax cuts have been scuppered by an eve-of-summit ambush by European leaders.
Angela Merkel, the German chancellor, last night led the assault on the prime minister’s “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.
A setback for the financial elites based in London and New York? I hope so.
Easy hole to get into – hard to get out of. Good lady Angela. Seems to me that a growing group of nations and people are saying “NO”.
A great deal of money has already been pumped into the system but must be allowed to work its way through, this will take time. Economic lags always occur. The trouble is that we live in a world that requires instant results.