Gordon Brown today said that he had warned of the current global financial crisis ten years ago – and that the current crisis is the birth pangs of a ‘new global order’.
The Prime Minister claimed that he had called for a stronger regulatory framework in the wake of the Asian money markets collapse in 1999.
But Mr Brown’s speech came as two new opinion polls show that Labour is losing the battle to convince voters that its anti-recession measures are working.
His comments also came on the day that it emerged 75,000 jobs had been lost across the world in a single day, with more than 8,000 of them in Britain.
(Article continues below)
‘As I said in Harvard ten years ago, we need an early warning system so that international financial flows are properly monitored,’ Mr Brown said in a speech yesterday.
- A d v e r t i s e m e n t
‘We must create a framework for the international governance that we currently lack. We must consider at a global level the regulatory deficit. For a decade I have said that the current patchwork arrangement is inadequate.‚Äô