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EU finance ministers disagree over the correct response to the global financial turmoil (Photo: European Community)

EU finance ministers reject stimulus package

European Union finance ministers meeting in the south of France for informal discussions over the weekend on a unified response to the darkening economic clouds agreed to boost loans to small and medium-sized businesses but ruled out any US or Japan-style major stimulus package to ward off recession.

Jean-Claude Juncker, Luxembourg's prime minister, finance minister and chair of the eurogroup - those member states that have adopted the euro as their currency - told reporters on Saturday...

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EU finance ministers disagree over the correct response to the global financial turmoil (Photo: European Community)

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