Financial Times FT.com

EU’s stimulus plan met with doubts

By Nikki Tait in Brussels

Published: November 26 2008 11:49 | Last updated: November 26 2008 21:07

The European Union’s proposal on Wednesday for a €200bn economic stimulus plan for the bloc was met by immediate doubts on whether member states would back the measures aimed at avoiding a deeper recession.

The proposal envisages that about €170bn ($220bn, £136bn) would be contributed by the bloc’s 27 member states through tax and infrastructure plans. The European Commission and the European Investment Bank would provide the remaining €30bn, partly through the accelerated pay-out of selected spending programmes.

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