Britain's Prime Minister Gordon Brown speaks at a news conference after the G20 summit at the ExCel centre in east London April 2, 2009. World leaders agreed a trillion-dollar deal on Thursday to combat the deepest economic downturn since the Great Depression.
Obama, G-20 Agree to $1 Trillion World Stimulus
Sarkozy Claims Tougher Regulations for World Corporations
LONDON April 2, 2009
[excerpts. emphasis added]
“British Prime Minister Gordon Brown, who hosted the G-20 economic summit in London, summed up their approach, saying, "Global problems require global solutions." “
“Brown, … , suggested that the days of U.S. primacy are long gone, pointing to Thursday's summit as an archetype for future global negotiations. "The old Washington consensus is over. Today, we have reached a new consensus that we take global action together to deal with the problems we face," he said.”
"The G-20 leaders agreed on more regulation for banks,..."
[ UK PM ] "... Brown said in the closing news conference of the G-20 sessions."
" "... I think a new world order is emerging. We will together manage the process of globalization." "
"Brown announced the formation of a new Financial Stability Board (FSB), with the International Monetary Fund monitoring progress of G-20's objectives, surveying the global economy and providing early warnings. But there wasn't a clear explanation of exactly what kind of powers the FSB would have."
"The Obama administration contends that the FSB is not a "global regulator" but rather a "mechanism for international coordination." "
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