Merkel defends German response to fiscal meltdown

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By Martin Banks
- 13th May 2009
We are thus making a contribution towards mastering the crisis

Angela Merkel

Angela Merkel has said that Germany is making a bigger contribution towards "mastering" the economic crisis than most other countries.

The German chancellor used an atricle in the German Times weekly newspaper on Wednesday to say that, as the world's biggest exporter, "we know that we have to make a key contribution".

This is necessary, she says, "not only to help the German economy get back on its feet but also to provide impetus for growth through international cooperation".

"The German government has adopted an economic recovery package that will result in billions of euros being invested in research and technology, education and environmental protection," she added.

"It will also bolster the innovative drive of SMEs in particular.

"All in all, Germany will be providing financial stimulus equivalent to 4.7 per cent of its GDP in 2009-10.

"We are thus making a contribution towards mastering the crisis that surpasses those of most of our European and global partners."

The article comes days before a key landmark in German history, when the Federal Republic of Germany turns 60 on 23 May.

Merkel said, "For many decades, the Berlin Wall and barbed wire divided our country into two worlds. This anniversary year makes us realise that being able to live in peace is a great gift.

"However, people want more than freedom and democracy. They also aspire to economic security and rightly demand opportunities to achieve prosperity."

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