Merkel tips Brown's grand plan into crisis

At the Downing Street press conference, Mrs Merkel said that Germany had already committed 4.2 per cent of GDP to a fiscal stimulus, putting her country at the "vanguard" of the global rescue effort.

Asked whether additional money was necessary, she said: "Nothing has actually taken effect on the ground yet. If we want to make real impact you really must implement the package first before you talk about the next step."