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EU wary of extra cash injection

Mark Mardell | 19:15 UK time, Thursday, 19 March 2009

2015: If the European Union gets its way the London G20 summit will concentrate on new rules and regulations, not discussing how to further stimulate the world economy.

The EU, I hear some of you say, doesn't have a seat on at the G20. In fact it has two: for the presidency (the Czech prime minister) and the president of the European Commission. That's in addition to the permanent members of the G7 - UK, France, Germany and Italy. Spain and the Netherlands are being asked along. Poland is very unhappy that it isn't represented.

Of course, whatever the summit agrees today there is nothing to stop individual nations arguing their individual case when it comes to 2 April in London. But there seems to be little objection to French and German insistence that this summit should deliver the message that existing plans must be given time to work and that new rules are the "top priority".

Gordon Brown wants to leave the way open for the world summit to talk about new stimulus packages, but a Downing Street spokesman conceded fiscal policy is not an issue at this Brussels summit. So they are down to talking about how the EU spends its 5bn-euro (£4.7bn) stimulus. And it's not proving easy.

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