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Money ministers discuss stimulus withdrawal

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Money ministers discuss stimulus withdrawal

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Euro Zone finance ministers and central bank governors are in Gothenburg to discuss when and how to withdraw financial support for the economy following the economic crisis.

It looks like the money ministers are split on when to pull out with Britain, France, Italy, Greece, Spain and Portugal preferring to not to set a date. However, the Belgians have backed Euro Zone finance chief Jean-Claude Juncker who wants 2011 as the starting point. The European Commission has said that most EU states should start cutting their budget deficits from 2011 to stop debt from spiralling out of control. The public finances of the 27-nation bloc have taken a battering after governments poured in billions of euros to help steady the ship, following the worst economic downturn since the Second World War.