Stimulus plans centre stage

Darkoak · Nov 26, 2008

LONDON (Reuters) - Massive stimulus plans to drive the world out of recession took center stage on Wednesday with Europe considering a more than 130 billion euro boost following the U.S. Federal Reserve's $800 billion credit market bailout.

Underlining the troubles facing industry, Toyota Motor Corp had its top-notch credit rating cut for the first time in a decade.

French Economy Minister Christine Lagarde said an economic stimulus plan to be unveiled later in the day by the European Commission may amount to more than a previously expected 130 billion euros ($168.9 billion).

The Commission is set to urge the European Union's 27 countries to unite on a two-year dash for growth, even if it means breaking the region's national deficit targets.
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Stimulus plans centre stage | U.S. | Reuters

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