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The Dutch government announced Friday a six-billion-euro stimulus package, as well as official plans for the Fortis takeover of ABN Amro to "build a new, strong bank," in the words of Finance Minister Wouter Bos.
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The Indian government is working on a second stimulus package for the current fiscal that includes further cuts in key policy rates by the Reserve Bank of India or RBI to spur economic growth that is reeling under the impact of the global financial meltdown. The second stimulus package will lay greater emphasis on monetary rather than fiscal steps, reports media.
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Friday, the Indian government announced additional measures for extending stimulus to the slowing economy. This is the second stimulus package in less than a month. On December 7, the government led by Prime Minister Manmohan Singh had unveiled a stimulus plan worth 200 billion rupees in additional plan expenditure in the current year mainly for critical rural, infrastructure and social security schemes.
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FEDERAL Cabinet is meeting to sign off on a massive financial stimulus package reportedly worth billions of dollars.
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The package was designed to guard the country's economy from a global slowdown, with one-time payments to help boost consumer confidence.
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With fears rising that the nation stands on the precipice of a prolonged recession, House Democrats are contemplating a huge infusion of public cash -- as much as $300 billion -- to stoke economic growth by creating public jobs and padding the wallets of struggling consumers.
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The Dutch Government is to invest €10bn in the banking giant ING to boost the company's capital position amid the ongoing crisis in the global financial system.
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WASHINGTON -- Momentum increased Monday for a new economic stimulus package as Federal Reserve Chairman Ben Bernanke endorsed extra help for the ailing economy, while the White House said it was open to the idea.
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Congress should consider implementing a second economic stimulus package, Federal Reserve Chairman Ben S. Bernanke said today, advising that any such program should be designed to have immediate impact and promote access to credit.
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The Federal Reserve chairman tells Congress more government intervention is called for before the year's end. WASHINGTON -- Noting "unusually large" uncertainty continuing to shroud the economy because of the financial crisis, Federal Reserve Chairman Ben S. Bernanke told Congress today it should consider another stimulus package to jolt spending and expand access to credit for consumers and businesses.
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The White House kept the door open for a second economic stimulus package on Monday, repeating that the Bush Administration has an "open mind" about a follow-up to the tax rebates sent out earlier this year. However, the chief spokesperson for President George Bush stressed that the details of the package would be key in determining whether it would receive White House support.
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Fed chief: Stimulus package would need to quickly entice people to spend.
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The prospect of a second fiscal stimulus package being approved before the end of the year rose after Ben Bernanke backed the notion and the White House indicated President George W. Bush was "open to the idea"
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THE US Federal Reserve reached deeper into the troubled financial system overnight, offering up to $US540 billion ($800 billion) of help to money market mutual funds in its latest response to the credit crunch.
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WASHINGTON (Reuters) - The White House on Tuesday said it was not proposing a second economic stimulus package, but was open to ideas that would clearly help the economy.
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An economic stimulus package offered by Gov. Jon Corzine received mixed reviews from New Jersey voters in a Quinnipiac University poll released today, with voters split 44% in support and 42% in opposition to a plan that would invest $250 million from state pension funds in community banks to encourage small business loans. But voters support (55%-31%) Corzine's proposal to use $45 million from the State Housing & Mortgage Finance Agency to help homeowners avoid foreclosure.
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Nearly four out of ten New Jersey voters don't know about Gov. Jon Corzine's economic stimulus package, according to a new Monmouth University/Gannett New Jersey poll. Voters narrowly approve, 44%-37%, a financial rescue plan approved by Congress and signed by the President earlier this month. Of the voters who have heard about Corzine's proposals, 38% say it would make things better for New Jersey families, while 22% think it would make things worse. More than a quarter of the voters (27%) say it will make no difference. “The federal government’s plan hasn’t quelled uncertainty among most New Jersey voters and it’s not yet clear whether Governor Corzine’s proposal for state action will do much better,” said Patrick Murray, director of the Monmouth University Polling Institute.
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Germany is drawing up economic measures to support consumption and help selected industries as growth in Europe's largest economy rapidly loses steam, government officials said
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Bernanke's endorsement makes plan more likely to move forward, perhaps as soon as mid-November.
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The government and central bank announce an emergency 10-point plan in response to increasing pressure on the country's battered currency and stock market
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Japan's second economic package in two months includes spending worth Y5,00bn and comes amid predictions he will put off an election many had anticipated next month
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Japanese Prime Minister Taro Aso announced a 27 trillion yen ($275 billion) stimulus package to shore up the world’s No. 2 economy Thursday.
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Japan's Prime Minister Taro Aso announced a US$275 billion stimulus package Thursday for the world's second-largest economy, including credits and loans to help small businesses, a reduction in highway tolls and a cash payback to households.
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Thursday, Japanese Prime Minister Taro Aso unveiled a new economic stimulus package, under which 5 trillion yen or $51 billion would be channeled to boost the world's second largest economy via tax cuts, special benefits to households and small businesses, loan guarantees and reduction in highway tolls.
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The ¥5 trillion plan is designed to help households and businesses. It was the boldest of several measures officials took Thursday to try to stanch the fallout from the global credit crisis and prompting shares throughout the region to surge.
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The package includes $51 billion to help households and businesses and is the boldest of several measures that officials took around the region to try to stanch the fallout from the global credit crisis.
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TOKYO, Oct. 30 -- Prime Minister Taro Aso moved Thursday to shelter Japanese taxpayers from global financial turmoil -- and to put off a national election that polls suggest could toss him and his ruling party out of power.
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The South Korean government has announced an economic stimulus package worth more than 14 trillion won to combat a possible global recession, Finance Minister Kang Man Soo told reporters on Monday morning.
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Monday, the South Korean government unveiled a stimulus package worth 14 trillion won to boost the slowing economy. The package includes 11 trillion won fiscal spending next year and 3 trillion won tax benefits.
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European finance ministers on Monday ruled out a joint stimulus package to revive the region's economy and vowed instead to coordinate national policies as they try to limit the fallout from a recession on consumers and companies.
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European finance ministers vowed instead to coordinate national policies as they try to limit the fallout from a recession on consumers and companies.
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Wednesday, Germany's Cabinet approved a stimulus package aimed at boosting growth and employment in the largest Eurozone economy.
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Some economists warned that the effort, worth $29.6 billion, might still be too small to significantly alter the effect of falling demand at in Germany and abroad.
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The package, designed to help Europe's biggest economy avoid the worst effects of a global slowdown, aims to stimulate €50 billion of investment in 2009 and 2010.
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A number of news sources (International Herald Tribune, Bloomberg, the WSJ) are reporting that China has unveiled $586 billion stimulus package that it hopes will bolster domestic demand and help avert a global recession.This from the Wall Street Journal:Though the
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China announced a 4-trillion yuan stimulus plan to spur expansion in the world's fourth-largest economy, helping sustain global growth as the US, Europe and Japan teeter on the brink of recession.
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