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German chancellor hosts economic crisis summit | Germany | Deutsche Welle | 22.04.2009
German Chancellor Angela Merkel met with industry, banking, government and union leaders in Berlin on Wednesday to discuss how to best cope with the fallout from the current economic crisis.  

A week before the German government is to issue its next economic forecast, Merkel called representatives from key businesses, banks and unions to a meeting in Berlin to try to assess the size of the crisis, and hammer out a course of action to avoid massive layoffs.

The government has already passed two stimulus packages it says are worth 81 billion euros ($104.7 billion), but the coalition is considering additional measures. It has, however, rejected calls from service-industry union ver.di and metal-workers' union IG Metall to finance a third, 100-billion-euro stimulus package.

Economics Minister Karl-Theodor zu Guttenberg said the "overwhelming majority" of participants at the meeting agreed that talk of a third stimulus package "lacks any foundation."

by Fran on Wed Apr 22nd, 2009 at 02:12:20 PM EST
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