The European Commission Has Launched An Economic Stimulus Package.

Beijing, November, 20, according to foreign reports, German economic minister Michael Glos said on Wednesday that the European Commission is drafting a 130 billion euro plan to support the economic development of the euro area.

Glos made the above statement on the German television station n-tv, but did not disclose more details about the plan.

A Glos spokesman said the European Commission would launch an economic stimulus package in November 26th, which could reach about 1% of the total 27 GDP of the European Union.

The spokesman said the preparatory work is still in its initial stage, and the consultative activities with the governments of the EU member states have just begun.