EurActiv.com - EU prepares massive growth plan worth €130 billion
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EU prepares massive growth plan worth €130 billion
The 27 EU countries will be asked to give away 1% of their GDP to contribute to a Europe-wide economic stimulus package, including loans for automakers, aimed at helping restart the economy and weather the effects of the recession, it emerged yesterday.Speaking on German television on Wednesday (19 November), Michael Glos, the German economy minister, said the package would involve contributions by member states of about 1% of their Gross Domestic Product (GDP).
A decision on the precise nature and amount of the package will be taken by EU heads of states and government during a summit in Brussels on 11-12 December.
