German spending spree would not be enough to save Eurozone

first_img More From Our Partners Biden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org GERMAN fiscal stimulus would have a minimal impact on Eurozone growth, ratings agency Standard and Poors (S&P) have said. Top figures, including Mario Draghi, the European Central Bank boss, and Christine Lagarde, the head of the International Monetary Fund have called on the Eurozone’s largest economy to boost spending. With a balanced budget and low government debt, it is the only major Eurozone economy considered to have the ability to undertake big spending plans.However, S&P yesterday said that if Germany increased public spending by one per cent of GDP in both 2015 and 2016, only 0.3 per cent would be added to Eurozone GDP by the end of 2016. The size of the assumed stimulus package is on a par with those seen in other advanced economics such as the UK and US. S&P believes 210,000 jobs could be created, but this pales in comparison to the 18m unemployed Eurozone citizens. Share Wednesday 22 October 2014 8:16 pm German spending spree would not be enough to save Eurozone Chris PapadopoullosChris Papadopoullos was City A.M.’s economics reporter until February 2016. He is an economist at OMFIF. whatsapp Show Comments ▼ whatsapp Tags: Eurozonelast_img

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