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EU finance ministers say that the investment of some 1.5 percent of EU's GDP would be appropriate for the bloc's economic recovery (Photo: European Community)

EU recovery plan lambasted as 'bad PR'

EU finance ministers offered a less than enthusiastic welcome to the European Commission's plans for a €200 billion fiscal stimulus package for Europe's faltering economy, welcoming the idea of a recovery package but rubbishing the plan on offer as nothing but a public relations manoeuvre.

"We discussed and welcome in principle" the commission's proposal, the finance chiefs of the 27-country bloc said in a joint statement, adding: "We agree that a package in the magnitude of 1.5 percent...

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EU finance ministers say that the investment of some 1.5 percent of EU's GDP would be appropriate for the bloc's economic recovery (Photo: European Community)

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