Hopes fade for united VAT boost

Article reports that France and Germany ruled out on the 24 November 2008 following the UK with a cut in value added tax to boost domestic demand, further dashing hopes of a rapid and co-ordinated fiscal stimulus by Europe’s largest economies.

BBC News, 24.11.08: Darling unveils borrowing gamble http://news.bbc.co.uk/1/hi/uk_politics/7745340.stm

Deutsche Welle, 25.11.08: Britain Unveils Stimulus Plan as Recession Looms http://www.dw-world.de/dw/article/0,2144,3818334,00.html

France24, 24.11.08: Britain cuts consumer tax in stimulus package http://www.france24.com/en/20081124-britain-cuts-consumer-tax-stimulus-package-economy-crisis

France24,24.11.08: French, German leaders push for united European response http://www.france24.com/en/20081124-french-german-leaders-push-united-european-response-financial-crisis

Spiegel Online International, 24.11.08: German Government 'Has to Step into the Breach' http://www.spiegel.de/international/germany/0,1518,592422,00.html

ESO: Background information: Call for ambitious German stimulus http://www.europeansources.info/record/call-for-ambitious-german-stimulus/

ESO: Background information: Europe needs a concerted fiscal stimulus http://www.europeansources.info/record/europe-needs-a-concerted-fiscal-stimulus/

Deutsche Welle, 25.11.08: Europe Looks for Agreement on Major Stimulus Proposal http://www.dw-world.de/dw/article/0,2144,3820844,00.html

---