To spend, or not to spend, that is the question: Whether ’tis nobler in the mind to suffer…(oh i can’t remember the rest)
Anyways, seems as though the question of fiscal stimulus is a contentious one the whole world over. Spains’ Economy Minister Pedro Solbes says “In the fiscal area, I, together with the rest of my colleagues from the euro area, consider that there is no room for new fiscal stimulus plans.”
Meanwhile, his boss Spanish Prime Minister Jose Luis Rodriquez Zapatero, is being quoted in the F.T as saying that if there were no signs of economic revival within at least four months, he would launch a fresh round of government spending.
If the government’s of individual countries can’t reach some sort of consensus on spending, what chance does the G20 have. Boy, that summit looks like its going to be one big cluster….
