re: #660 wahabicorridor

Germany approves €50bn stimulus package

Tuesday 27 January 2009 14.16 GMT

Chancellor Angela Merkel’s cabinet approved a €50bn (46.7bn) stimulus package today, the biggest programme in Europe, to tackle overcome the country’s deepest economic crisis since the second world war.

The package will require a new borrowing level of €36.8bn, more than twice the amount planned for 2009 before the impact of the global crisis on Europe’s largest economy was realised. It is also more than three times the amount forecast in the middle of last year. A controversial draft supplementary budget is planned to cover the leap in borrowing.

The programme is equivalent to 1.6% of gross domestic product, and is the biggest of its kind in German history.

It’s too easy to check this stuff.