Leaders in talks to rescue the economy

Following US president elect Barack Obama plans to stimulate and protect the nation’s car industry as well as an infrastructure investment programme costing up to $500 billion to help create 2.5 million jobs world leaders have all begun plotting their next steps.

Here in the UK, Prime Minister Gordon Brown, French President Nicolas Sarkozy and European Commission chief Jose Manuel Barroso met in London yesterday in order to discuss the current state of the economy.

Vodafone, Tesco, British Telecom, the National Grid, Corus, Prudential and Diageo had all sent representative to the meetings that are taking place in Downing Street.

It is hoped that a new focus on spending on technology would help governments to invest their way out of recession.

Previously road and rail infrastructure was used as a powerful stimulus to the economy and it is hoped that in the digital era infrastructure including telecommunication, environmentally related industries and new environmental technologies is seen as the future.

Thus far both the UK and France have announced stimulus plans in order to pump money into stuttering economies, although Germany on the other hand has not answered EU calls to stump up millions to help finance EU growth measures.

EU leaders are expected in Brussels next week in order to hols an economic summit.

Story link: Leaders in talks to rescue the economy