Germany's Angela Merkel Roadblocks "Global New Deal"

The London TimesOnline reports that "Angela Merkel, the German chancellor, last night led the assault on the [British] prime minister’s 'global new deal' for a $2 trillion-plus fiscal stimulus to end the recession. 'I will not let anyone tell me that we must spend more money,' she said. The Spanish finance minister, Pedro Solbes, also dismissed new cash being pledged at Thursday’s London summit. 'In these conditions I and the rest of my colleagues from the eurozone believe there is no room for new fiscal stimulus plans,' he said... The assault by European Union leaders also represents a defeat for President Barack Obama, who is desperate for other big economies to copy his $800 billion stimulus plan."
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