Brown: EU leaders back $267B economy stimulus

[December 12, 2008]  BRUSSELS, Belgium (AP) -- British Prime Minister Gordon Brown says EU leaders have agreed on a euro200 billion ($267 billion) economic stimulus package to rescue their recession-hit economies.

He also says European Union governments' approach would not tamper with British plans to spend its way out of a downturn. The EU plan covers 2009-2010.

Brown told reporters at an EU summit Friday that Britain's fiscal policy stance had been vindicated and EU leaders agreed that budgets must support monetary policy.

Germany's finance minister has been harshly critical of Britain, saying it was crass and unwise to load the next generation with debt as it tries to stoke growth with sales tax cuts.

[Associated Press]

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