EU Proposes $256 Billion Stimulus Plan

By Robert Wielaard

BRUSSELS, Belgium -- The European Commission wants EU governments to jointly combat the growing economic slowdown with a 200 billion euro ($256.2 billion) stimulus plan to boost growth and confidence among consumers and businesses.

In a two-year European Economic Recovery Plan, made public Wednesday, it calls on the 27 EU governments to spend more to halt the accelerating economic slowdown that has pushed some European nations into recession.

The proposed stimulus plan would represent 1.5% of EU gross domestic product. Around 170 billion euros would come from national governments and the rest from EU funds and the bloc's lending arm, the European Investment Bank. ...