Reuters scores with exclusive details of proposed EU economic stimulus.
It started with an exclusive alert on a leak late Monday, November 24th of details of European Commission stimulus package proposals designed to provide a short, sharp boost to the European economy. The package would include cuts in value-added tax and a call for lower interest rates in the eurozone, EU sources told Reuters. This was followed on Tuesday, November 25th with further details of the draft proposal which stated that the fiscal boost should be substantial but also timely, targeted and temporary. Reuters scored again, just over an hour later, with an exclusive interview with the EU’s new Trade Commissioner who indicated that progress was being made at the World Trade Organisation(WTO) and she expected ministers to meet on the stalled Doha round within the next three weeks. Leaders of the G20 group meeting in Washington earlier this month called for fast progress on trade liberalisation to help boost the ailing global economy.