Why Does Angela Merkel Hesitate?

German Chancellor Angela Merkel has been widely criticized for playing the spoiler in the competition to provide billions to prevent a breakdown of the world economy. But there are good economic reasons for Germany to wait before implementing a stimulus package, and Merkel's stance can also be explained by justified fears of the EU's redistribution machinery.

MUNICH – “Where is Angela?” is the question The Economist asked when Nicolas Sarkozy, Gordon Brown, and José Manuel Barroso met to prepare a European economic stimulus plan without Chancellor Merkel being present. Indeed, Germany is currently the spoiler in the competition to provide billions to prevent a breakdown of the world economy. Why is Germany so hesitant when it comes to economic stimulus programs?

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