FACTBOX - European Commission's economic stimulus proposals

Fri Nov 21, 2008 6:47am GMT
 
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BERLIN (Reuters) - The European Commission plans a 130 billion euro (109 billion pound) economic stimulus package that foresees the European Investment Bank contributing 2 billion euros for the bloc's struggling car industry, a German government paper obtained by Reuters showed on Thursday.

Below are details of the EU executive's plans, according to the German paper.

-- European Commission is proposing 130 billion euros in growth stimulus, representing about 1 percent of the bloc's gross domestic product (GDP). Budget situations in member states to be taken into consideration.

-- European finance ministers to debate plans at December 2 meeting.

CONSTRUCTION AND CAR SECTOR

-- public-private partnership for auto sector to boost green technologies; supply-side measures such as lower taxes on environmentally friendly cars. EIB to contribute 2 billion euros.

-- 2.5-billion euro technology initiative to support new Internet and product engineering technologies.

-- measures, including tax incentives, to increase investment in research and development.

-- public-private partnership in construction sector. Support of energy-efficient construction and usage of green technologies.  Continued...

 
A dealer works on the trading floor shortly after the U.S. markets opened, at CMC Markets in London October 3, 2008. REUTERS/Toby Melville
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