Tuesday, January 13, 2009

Germany agrees 50bn euro stimulus

Germany's coalition government has agreed an economic stimulus package worth about 50bn euros ($67bn; £45bn), senior ministers have said.

More details are expected later of the measures aimed at helping the country during what some fear could be its worst recession since World War II.

The initiatives include investments in railways, roads and schools, as well as a number of tax relief measures.

A 23bn euro plan, passed last month, was derided for being too cautious.

In its second attempt to kickstart Europe's largest economy, Chancellor Angela Merkel's cabinet has gone further, and she is expected to unveil the details of the plan on Tuesday.

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