Europe has done enough, says Jean-Claude Juncker - by Bruno Waterfield
Eurozone countries have rejected American calls for increased and continued public spending increases to tackle the global recession highlighting transatlantic divisions. Jean-Claude Juncker, the chairman of the 16 Eurogroup countries and Luxembourg's prime minister, has insisted that in terms of economic recovery spending Europe had "done what it has needed to do". "We take the view that we don't need to make a further effort for the moment. We mustn't pile deficit upon deficit."
Disagreement also looms over how to save collapsing banks and how much regulation is needed of the financial markets and institutions responsible for triggering the economic crisis. The splits are a setback for Gordon Brown who will welcome Barack Obama on his first European visit as US President to the G20 meeting on April 2 in London. The British Prime Minister has also angered key European countries by bypassing the EU in efforts to negotiate a separate America-friendly G20 deal on recovery spending and financial regulatory plans.
Note EU-Digest: Its high time Britain chooses where its alliance lies. Its high time Britain understand the reality that you can’t have your cake and eat it too.
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