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Brown says the world has to re-think the economy
Calcutta News.Net
Friday 10th October, 2008
UK Prime Minister, Gordon Brown, has recommended to world governments that they follow Britain's lead by supporting their own struggling banks.
Writing in the Times, he said the crisis required a global solution from world leaders to completely restructure financial markets.
Mr Brown said that the banking system was fundamental to the economy and required new principles and policies from all around the globe.
Mr Brown said without a bold, coordinated approach, families would not be able to be adequately supported.
But some European countries are known to be sceptical about offering the same level of support to banks as has the UK.
The French government has already stated it would not want to guarantee billions of euros in new bank debt.
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