First Merkel said Germany didn't need a new economic stimulus package. Then she said there would be no tax cuts. But on Friday, her party presented its proposal for a 50 billion euro plan, complete with lower taxes. And it comes not a moment too soon.

Germany's first economic stimulus package didn't go well. Announced with great fanfare by Chancellor Angela Merkel last autumn, the plan was quickly shredded by economists and politicians alike for not being ambitious enough. Merkel's European colleagues rapidly isolated her.

Now, though, Berlin is trying again. On Monday, Merkel's conservatives are meeting with their Social Democratic coalition partners to hammer out the details on what is expected to be a €50 billion collection of measures aimed at jumpstarting Germany's suddenly moribund economy.

Spiegel (English language edition)