(Angus Reid Global Monitor) – Germans are divided on the effectiveness of a second economic stimulus package announced by the government, according to a poll by Infratest-Dimap released by ARD. 43 per cent of respondents say the plan will help the national economy, while 51 per cent think it will not.
(Angus Reid Global Monitor) – Germans are divided on the effectiveness of a second economic stimulus package announced by the government, according to a poll by Infratest-Dimap released by ARD. 43 per cent of respondents say the plan will help the national economy, while 51 per cent think it will not.
While 51 per cent of respondents say they will save the money they receive from this package for now or until retirement, 44 per cent say they will spend it on major or everyday purchases.
Since late 2007, defaults on so-called subprime mortgages—credit given to high-risk borrowers—in the United States have caused volatility in domestic and global financial markets and pushed the U.S. economy into a recession. A recession is defined as two consecutive quarters of negative growth. The crisis has affected the global financial and credit systems.
Germany has been hit hard by turmoil in international financial markets, and went into recession in the third quarter of 2008. In October, the government of conservative chancellor Angela Merkel introduced an expensive rescue package aimed at stabilizing the financial system. The measure called for banks and financial institutions to borrow money from the government’s rescue fund.
On Jan. 12, German legislators approved a second stimulus package valued at $80 billion U.S.—the largest in Europe. Bavarian Christian-Social Party (CSU) member Peter Ramsauer said that Germans could expect tax cuts and breaks "worth billions" in 2009 and 2010 as part of the plan.
Polling Data
The government is preparing a second economic stimulus package. What will you do with the money you receive?
|
Save the money for now / Save the money for retirement |
51% |
|
Spend the money on major or everyday purchases |
44% |
|
Not sure |
5% |
Do you think the second economic stimulus package will help the economy?
|
Yes |
43% |
|
No |
51% |
|
Not sure |
6% |
Source: Infratest-Dimap / ARD
Methodology: Telephone interviews with 1,001 German adults, conducted from Jan. 5 to Jan. 7, 2009. Margin of error is 3.1 per cent.
