European Economic Recovery Plan
In November 2008, the European Commission presented the European Economic Recovery Plan, a plan of 200 billion euros (1.2% of GDP) to fight against the consequences of the economic crisis in the European Union. In reality, the plan is a series of national measures to be implemented by each government, without much coherency between the policies. The measures included incentives to investment, tax cuts and social measures.
Read more about this topic: Late-2000s Recession In Europe
Famous quotes containing the words european, economic, recovery and/or plan:
“It has become necessary to call the attention of European governments to a fact which is apparently so insignificant that the governments seem not to notice it. The fact is this: an entire people is being annihilated. Where? In Europe. Are there witnesses? One witness, the entire world. Do the governments see it? No.”
—Victor Hugo (1802–1885)
“Our country has deliberately undertaken a great social and economic experiment, noble in motive and far- reaching in purpose.”
—Herbert Hoover (1874–1964)
“With any recovery from morbidity there must go a certain healthy humiliation.”
—Gilbert Keith Chesterton (1874–1936)
“As I write, there is a craze for what is called psychoanalysis, or the cure of diseases by explaining to the patient what is the matter with him: an excellent plan if you happen to know what is the matter with him, especially when the explanation is that there is nothing the matter with him.”
—George Bernard Shaw (1856–1950)