Why do I like Angela Merkel? There are many reasons. One important reason was epitomized yesterday when Gordon Brown, still (but not for long) the British Prime Minister, tried to stir up support for his $2 trillion (plus) “global New Deal.” Quoth Merkel:
“I will not let anyone tell me that we must spend more money
Merkel was not alone:
The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit.
“In these conditions I and the rest of my colleagues from the eurozone believe there is no room for new fiscal stimulus plans,” he said.
Obama’s in for a disappointment, too:
The assault by European Union leaders also represents a defeat for President Barack Obama, who is desperate for other big economies to copy his $800 billion stimulus plan.
We live in wondrous times: Unlike the US administration, the Germans and the Spaniards don’t want more government spending, and the Brazilian socialists want more free trade.
The president of the EU, former Czech president Mirek Topolanek, considers Obama’s stimulus plan “the road to hell:”
And that’s a good thing.