In The Press
Letter to the Editor of the Evening Standard
2 April 2009
We should beware of exaggerating the differences of approach among G20 members. Anne McElvoy suggests France and Germany are at odds with Brown and Obama over a concerted fiscal stimulus, but it was Nicolas Sarkozy who co-ordinated the 200 billion European stimulus package last December, and Germany adopted two stimulus packages in January worth 4.3 per cent of GDP, greater than the comparable figures for the UK (4.1 per cent).
There is an enormous amount uniting the US and EU over issues such as opposing protectionism, resuscitating the Doha trade round and boosting the IMF. The EU and US have a shared interest in taking joint action on several fronts and have a responsibility to guide the rest of the G20.
Business for New Europe