Germany Rebuffs IMF Pressure for Stimulus

Germany wants nothing of the International Monetary Fund pressure to allow some money that will go to Europe's financially weakest nations to be used for stimulus and not to underwrite recoveries based on austerity. According to Reuters:

Finance Minister Wolfgang Schaeuble said Europe had made plenty of crisis-fighting progress, echoing comments from other European officials who said there should be greater attention paid to U.S. fiscal troubles.

Germany's plans almost certainly will trump those of the IMF's Christine Lagarde, if only because the country is such a large contributor to bailout programs, particularly the European Stability Mechanism. The ESM is the cornerstone of plans to fight the deficits that threaten to bring down the economies of several eurozone countries.

Douglas A. McIntyre


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Chuck

Presidents today are simply puppets for the WTO,which is protected by the UN. It makes no difference whether Democrat or Republican. Talk is cheap. We need a leader that is voted by the people and for the people. We do not need or appreciate the stupidity of the electoral college,Henry Kissinger,GE,Hillary Clinton,etc. These people use us to control and police the world. We are not in their best interest as they are so much far advanced and realize the benefits of being "World Class". Well,there are some of us that understand why we are not liked worldwide and would seriously like to abort all embassies and bring our troops home. Balancing a budget should have some priority.

October 12 2012 at 9:57 AM Report abuse rate up rate down Reply