Germany is boycotting the EU rescue programme

"Angela Merkel got the backing of her party over the weekend to delay any tax cuts until after the elections of September 2009, which means that the earliest conceivable time would be January 1, 2010. In the meantime, her government is taking a wait and see attitude to the crisis – wait and see how the present midget of a stimulus is working – and to add small new measures should this become necessary."