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November 26, 2008
Europe Insider Keep up-to-date with the latest news from Europe

NEWS THIS WEEK'S TOP STORIES FROM EUROPE

Is Britain's Stimulus Plan a Wise Move?

Britain is pulling out the stops to immediately shore up the badly shaken economy, but what it will mean for the longer term is unclear

Inside: This Week In Europe

You can't accuse Britain of not trying hard to stem the damage from the global economic crisis. On Nov. 24, the government rolled out a stimulus package including tax cuts meant to spur consumer spending. But is Britain mortgaging its future to later tax increases that will be needed to repair the budget? Mark Scott explains in our top story this week.

We've also got more economic doom and gloom from Germany, Russia, and Israel, tough times for automakers, an end to the BHP Billiton deal, and Kazakhstan's construction woes. Plus, a dark view of Europe in 2025, investing and innovation in a down economy, auto reviews, and Robert Parker on Chateauneuf du Papes. Don't miss a slide show on Africa's best small businesses. There's still some hope out there.
Andy Reinhardt, Europe Editor
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MORE EUROPEAN NEWS

FINANCIAL CRISIS CRUNCH
Fighting the Global Slump: Less Is Dangerous
Amid a debt-deflation spiral, the governments' greatest risk is enacting stimulus measures that are too little to fight the slump

EUROPE • From Spiegel Online
Economic Doom and Gloom from Germany
Next year could bring more bad news, says Chancellor Angela Merkel, since no one can predict when the economic slide will hit bottom

TECHNOLOGY
Hard Times Hit Israel's Tech Sector
Suddenly many are out of work as the global recession slams the country's largest export industry

EASTERN EUROPE • From Transitions Online
Russian Economy: The Pain is Spreading
The downturn isn't being felt by billionaire oligarchs alone. Companies and consumers also are starting to feel the pinch

EUROPE INSIGHT
Push for European Auto Bailout Gains Speed
Politicians and free-market advocates are squaring off over a possible $50 billion government bailout for the European auto industry

EUROPE • From Spiegel Online
German Auto Industry Facing the Abyss
Carmakers in Germany are facing their worst crisis in decades, with hundreds of thousands of jobs at risk. BMW and Mercedes are especially vulnerable

FACETIME
Carlos Ghosn on Detroit and the Future of the Auto Business
"Everything is lined up…toward consolidation of the industry. But are you going to be able to get the money you need at a reasonable cost?"

EUROPE INSIGHT
BHP Billiton Ends Rio Tinto Takeover Bid
The Anglo-Australian mining giant gave up on its hostile acquisition, which fell victim to falling commodity prices and the faltering global economy

EASTERN EUROPE • From Transitions Online
Kazakhstan's Construction Collapse
The global financial crisis has hammered the building business in Central Asia's largest country. Recovery will depend on the oil market

EUROPE • From EUobserver
U.S. Spooks' Dark View of Europe in 2025
Washington's National Intelligence Council foresees a powerless EU hobbled by internal bickering, a euroskeptic citizenry, and organized crime

INVESTING
Baillie Gifford Expands in the U.S.
The Scottish money manager will run more mutual fund portfolios for America's Vanguard

EUROPE • From EUobserver
European Internet Report: Brits on Top
The British are the most active users of the Web in Europe. In all countries, women use it more than men

ENTREPRENEURS
Recognizing Small Businesses in Africa
The Pioneers of Prosperity Africa Awards honors a group that represents a new wave of dynamic entrepreneurs shaping the continent's future

VIEWPOINT
Innovation for Hard Times
Cutting staff or programs while demanding more of your workers will yield diminishing returns. Executives should seek leverage to create economic value

TECHNOLOGY • From silicon.com
Helping Students Become Entrepreneurs
Britain is setting up a University Enterprise Network to nurture homegrown tech experts capable of creating the next Google or Facebook

CAR DESIGN
BMW's New Mini: It's Electric!
An electric version of the popular gas-powered Mini Cooper was unveiled at the Los Angeles auto show. 500 "lockable garage" owners get the chance to test drive the green machine

NEWS & FEATURES • From Gizmag.com
Porsche's Next Boxster and Cayman
Porsche has unveiled its second-generation mid-engined Boxster at the Los Angeles Auto Show

TECHNOLOGY • From silicon.com
All Aboard: High-Speed Train Gets Wi-Fi
Next autumn, France's TGVs will launch a service of onboard paid-for wireless Net access

PARKER ON WINE
Super Chateauneuf du Papes
The excellent 2006 Chateauneuf du Papes are now on the shelves. Here are some of the best of the vintage, including one that earned 98 points

SLIDE SHOW
Africa's Best Small Companies
Meet the 10 finalists and six winners of the annual Pioneers of Prosperity Africa Awards, which honor the best small businesses in Africa

BW'S PICKS FROM AP NEWS >>

• Lufthansa to launch airline in Italy

• Credit crunch curbs Christmas shopping in Nordics

• EU closes antitrust case against Germany's E.On

• Britain to host G-20 meeting in April

• Woolworths suspends trading pending possible sale

MORE BREAKING NEWS FROM AP >

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Is Britain's Stimulus Plan a Wise Move?

November 26, 2008

Europe Insider

Is Britain's Stimulus Plan a Wise Move?

Britain is pulling out the stops to immediately shore up the badly shaken economy, but what it will mean for the longer term is unclear

• Lufthansa to launch airline in Italy

• Credit crunch curbs Christmas shopping in Nordics

• EU closes antitrust case against Germany's E.On

• Britain to host G-20 meeting in April

• Woolworths suspends trading pending possible sale

"But has he ever sold a car? Why do we keep hiring these accountants and MBAs who can't build or sell anything? Maybe that's why we are in trouble."

As world leaders gather to refashion the global financial system, they'll be tempted to return to Keynesianism. They should resist the trap

The slowdown in Russia is part of the global epidemic, but after years of heady growth, the suddenness of the reversal has come as a shock

CNET.co.uk Product Reviews

CNET.co.uk Editors' picks, value ratings, feature comparisons, and photos

Slide Shows

Europe's Hot Growth Companies

BW50: Europe's Top Performers

Eco tech outfits are among the up-and-comers thriving with help from their governments

CNET.co.uk
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