Germany, France make little progress on response to recession

11/25/2008 | International Herald Tribune

German Chancellor Angela Merkel and French President Nicolas Sarkozy met in Paris to discuss a coordinated effort to bolster Europe's economy, but they agreed only that they do not want to follow the U.K.'s lead by reducing the sales tax. At a joint news conference with Merkel, Sarkozy said lowering consumer taxes "is not the right answer for France and Germany." The British government said Monday that, among other efforts, it will cut the value-added tax from 17.5% to 15% for a year.

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