The German Chancellor Gerhard Schroeder says he believes there is little chance of an early improvement in the world economy and signalled that Germany would be relying rely on tax and labour market reforms to stimulate growth. He told the German parliament: "The development in the international financial and stock markets, reticence by consumers and investors in all the major economies, continued uncertainty in raw materials and energy markets, and the explosive situation in the Middle East, provide little cause for hope of an early improvement in the world economy."

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!