Debate starts on stimulus package

National Economy and Finance Minister Giorgos Alogoskoufis (left) looks on as Germany’s Finance Minister Peer Steinbrueck (right) greets Luxembourg counterpart Jean-Claude Juncker in Brussels yesterday ahead of a eurozone finance ministers’ meeting. The ministers were expected to consider how to flesh out the European Commission’s 200-billion-euro plan to boost their recession-hit economies. While proposing a list of possible actions, including tax cuts and higher social benefits, the Commission has left it to the bloc’s 27 members to decide what action to take. Growth measures to be taken by Greece are likely to be limited due to fiscal problems resulting from the country’s high public debt and budget deficit.

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