The news, if confirmed, may irk Germany's neighbors in Europe. Newspapers are claiming the second economic stimulus package due to be unveiled next month will total just €25 billion rather than the originally planned €40 billion because Germany doesn't want to give other nations an excuse to breach deficit rules.
Steinmeier told the Welt am Sonntag newspaper that the German government also needed to prepare an aid package for German automakers suffering under the global economic downturn. The auto business is Germany's largest industry and biggest export, prompting Steinmeier to label it "the spinal cord of (Germany's) economy." "We must also stimulate the purchasing of automobiles with state incentives," such as tax breaks, said the foreign minister. One in seven German workers is directly or indirectly involved in the car industry, the German auto manufacturers' association VDA has said. New car registrations in Germany fell 18 percent in November against figures from the same month last year, VDA said last month.
Steinmeier told the Welt am Sonntag newspaper that the German government also needed to prepare an aid package for German automakers suffering under the global economic downturn.
The auto business is Germany's largest industry and biggest export, prompting Steinmeier to label it "the spinal cord of (Germany's) economy."
"We must also stimulate the purchasing of automobiles with state incentives," such as tax breaks, said the foreign minister.
One in seven German workers is directly or indirectly involved in the car industry, the German auto manufacturers' association VDA has said.
New car registrations in Germany fell 18 percent in November against figures from the same month last year, VDA said last month.
Sigh... *Lunatic*, n. One whose delusions are out of fashion.
