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Brussels Summit

Swedish Prime Minister, Colleagues Reject More Credit Packages

Published fredag 20 mars 2009 kl 12.00

Swedish Prime Minister Fredrik Reinfeldt and his European Union colleagues have decided at their summit meeting in Brussels to reject any more large-scale credit packages to help out floundering companies, banks and other institutions in the ongoing global financial crisis.

Swedish news reports maintain that the European leaders are unusually in solid agreement that more state money pumped into the economies at this time could be detrimental instead of helpful - and that the already agreed-on assistance packages have not yet had a chance to show their results.

However, many critics and labor union leaders in Europe disagree - and are demanding more action now to save jobs – arguing that the European government leaders should not wait for the crisis to get worst before taking measures.

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