LONDON, March 14 (Chinese media) -- German Chancellor Angela Merkel on Saturday played down new possible stimulus plans, saying her country has already has a stimulus package.
Instead, Germany would concentrate on delivering its policies, she said.
Merkel, during a two-day visit in London, said that German stimulus packages amounts to about 4.2 percent of its GDP in 2009 and 2010, noting that what the country needs to do is to help build a better regulatory system to prevent future problems and let the banks and enterprises play their roles.
She said her country is different from either the United States or Britain in pension and employment system.
Germany needs to cut the red tape so as to promote its exports and stabilize its economy, she added.
Merkel said she was optimistic world leaders could come to an agreement at next month's G20 summit, adding that the summit will bring "concrete results."
World leaders should put together financial packages that "benefit both national and international economies," she said.
British Prime Minister Gorden Brown, who has repeatedly emphasized a "global New Deal" for the G20 summit against the current crisis, said "each country can help the other by announcing similar financial measures."
Germany and Britain have already had their "biggest stimulus packages in history," Brown said.
He said that in such a globalized economy today, a bad bank in one country can harm a good bank in another. The prime minister said there should be efforts to fight the crisis on both the national and international levels.
Brown also said world leaders have agreed to share information against tax heavens, saying "That is a sign of the world working together and making progress."
Special Report:Global Financial Crisis
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