Draft leak exposes Brown's stimulus plan

By Fu Jing (China Daily)
Updated: 2009-03-31 08:50

LONDON: Months ago, when the UK was chosen as host for this week's G20 summit, its Prime Minister Gordon Brown was dreaming of becoming the leader who would save the world from the financial crisis. But in the run-up to the gathering of G20 leaders, Brown has got off to a bad start.

Special coverage: G20 Financial Summit Related readings:  Too early to discuss global financial reform: EU  EU president calls US economic plans a 'road to hell'  EU takes different approach to financial crisis

The latest worry came over the weekend, when a draft of the final communiqu to be signed off by world leaders at the close of the gathering on Thursday appeared in the German magazine Der Spiegel.

With a British blueprint for a $2-trillion worldwide spending boost being leaked, there were suspicions that the leak was a deliberate act of sabotage by sources within the German government, where Chancellor Angela Merkel is adopting a more cautious approach to fiscal moves to boost the national economy than Brown.

A spokesman said the $2 trillion figure did not amount to "extra money" to rescue economies that have been crippled by the credit crunch, but referred instead to estimates of expenditure.

Brown needs to maintain a "skillful balance" between the US, keen on an expanded stimulus package, and the European countries led by France and Germany, who are cautious about fiscal spending.

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