Printer Friendly

-Former British prime minister calls for ending crisis in Europe.

Global Banking News-September 16, 2011--Former British prime minister calls for ending crisis in Europe(C)2011 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 16 September 2011

Gordon Brown, the former prime minister of the UK, has said that if the crisis in the eurozone was not resolved immediately, the US and the UK could have to deal with 10 years of slow growth.

According to a report by Reuters, Brown said. 'Unless there is global coordination...I foresee 10 years of low growth in Europe and America, I foresee very high levels of unemployment and I foresee a failure of coordination that will lead in the end to greater protectionism. You cannot begin to solve the European problem unless you understand it is a banking problem, a growth problem, the inability of the European economies to grow out of a recession, as well as being a fiscal problem.'

Brown also hinted that the problem was not restricted to the euro zone, and added that an international agreement was needed to fully resolve the issue.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))
COPYRIGHT 2011 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Sep 16, 2011
Words:197
Previous Article:-Wells Fargo's insurance unit acquires insurance company.
Next Article:-ING looking to grow in home market.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters