At the FT:
Germany’s finance minister has launched a stinging attack on the “crass Keynesianism” pursued by Gordon Brown, the British prime minister, fuelling tensions on the eve of European economic crisis talks in Brussels.
Peer Steinbrück accuses Mr Brown in a magazine interview of “tossing around billions” and saddling a whole generation with a bill for paying off British debt.
At the Telegraph, “Brown’s economic rescue plan ineffective says German minister”:
Peer Steinbrück launched an outspoken attack on Mr Brown’s fiscal stimulus package, saying a cut in VAT would have little impact and predicting that the huge debts the Treasury is taking on will be a burden on the UK economy for a generation.
The remarks are an embarrassment for the Prime Minister, who has repeatedly claimed his plans have set the template that other countries are following.
They came the same day Mr Brown was ridiculed in the Commons for declaring that his policies had “saved the world.”