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Sarkozy and PM in economy talks Sarkozy and PM in economy talks
(about 7 hours later)
French President Nicolas Sarkozy will meet Gordon Brown at Downing Street later for talks on what more can be to stimulate the global economy. French President Nicolas Sarkozy is meeting Gordon Brown at Downing Street for talks on what more can be to stimulate the global economy.
European Commission President Jose Manuel Barroso will join them, ahead of an EU summit in Brussels this week. European Commission President Jose Manuel Barroso is joining them, ahead of an EU summit in Brussels this week.
They will meet business leaders from across Europe afterwards to discuss ways to ease problems. They will later meet business leaders from across Europe afterwards to discuss ways to ease problems.
And they are expected to discuss ways that moving to a low carbon economy could generate more jobs. And they are expected to discuss ways that moving to a low-carbon economy could generate more jobs.
Presidents Sarkozy and Barroso are expected at Downing Street for an hour-long meeting before the meeting with businesses. Among those taking part in the Downing Street meeting are representatives of Vodafone, Tesco, British Telecom, the National Grid, Corus, Prudential and Diageo.
French package
In November the European Commission unveiled an economic recovery plan worth 200bn euros (£170bn) - including at least 5bn euros to help the car industry develop green technologies.In November the European Commission unveiled an economic recovery plan worth 200bn euros (£170bn) - including at least 5bn euros to help the car industry develop green technologies.
Last week France became the latest of the biggest European economies to unveil a fiscal stimulus package.Last week France became the latest of the biggest European economies to unveil a fiscal stimulus package.
It plans to spend 26bn euro (£23bn) plan to boost its economy - including a loan for car manufacturers and 5bn euro public sector investments.It plans to spend 26bn euro (£23bn) plan to boost its economy - including a loan for car manufacturers and 5bn euro public sector investments.
Britain has already unveiled a £20bn (23.6bn euros) plan - which includes a cut in VAT, but the prime minister's spokesman has indicated more needed to be done across Europe.Britain has already unveiled a £20bn (23.6bn euros) plan - which includes a cut in VAT, but the prime minister's spokesman has indicated more needed to be done across Europe.
It is expected that the meeting with business leaders will discuss ways to ease pressure on firms - for example by reducing red tape to help keep costs down.It is expected that the meeting with business leaders will discuss ways to ease pressure on firms - for example by reducing red tape to help keep costs down.