European Union leaders rejected on Thursday any new stimulus plans as the United States has urged recently, saying that the EU has done enough in this respect.
"It is a huge, huge effort," European Commission President Jose Manuel Barroso said before a two-day summit, referring to the 200-billion-euro European Economic Recovery Plan put forward by the commission in November last year.
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European Commission President Jose Manuel Barroso gestures during a press conference ahead of the EU spring summit in Brussels, capital of Belgium, March 19, 2009. The EU spring summit will be held here later Thursday. [Wu Wei/Xinhua]
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He said that the EU actually has invested 400 billion euros plus automatic stabilizers such as employment and healthcare welfare.
"So instead of speaking already of the next plan, lets implement the plan we have agreed," he added.
Czech Prime Minister Mirek Topolanek, whose country holds the rotating EU presidency, described any more stimulus plans as a "deadly idea."
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Czech Prime Minister Mirek Topolanek, whose country is holding the European Union (EU) rotating presidency, addresses a press conference ahead of the EU spring summit in Brussels, capital of Belgium, March 19, 2009. [Wu Wei/Xinhua]
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The Unites States recently called on governments to invest more public spending to boost demand and announced on Wednesday that the US Federal Reserve will launch 1.2 trillion US dollars to lower rates on mortgages and other consumer debt.
"You cannot solve everything by using taxpayers' money," commented Swedish Prime Minister Fredrik Reinfeldt.