German agreed on $65 bln stimulus package to shore up the economy

Share traders have a chat in front of the German share price index
DAX board at the German stock exchange in Frankfurt, November 5, 2008.
REUTERS/Kai Pfaffenbach (GERMANY)
From Bloomberg
November 5, 2008 08:05 EST

German Chancellor Angela Merkel's Cabinet agreed on a package of measures aimed at unlocking 50 billion euros ($65 billion) of investment to shore up the economy amid a global slowdown.

The package is aimed to avert a credit squeeze for small and medium-sized companies. That is a tailored economic growth package, not a classic stimulus program, which to strengthen the power of the economy to resist the impact of the crisis

The two-year program ranges from tax breaks for buyers of new cars to greater financial help for improving buildings' energy efficiency. The measures will cost 23 billion euros in the four years through 2012, of which 10.9 billion euros will come out of the federal budget

ETFs/Stocks :

iShares MSCI Germany Index Fund ETF (EWG)

Related Posts :

1. South Korea plans US $10.8 bln stimulus package
2. Germany plans $64 billion stimulus package

Sources :

Bloomberg: Merkel's Cabinet Backs 50 Billion-Euro Stimulus Plan (Update1), November 5, 2008 08:05 EST

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