WORLD> Europe
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WORLD> Europe
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Brown calls for European leadership at G20
(Xinhua)
Updated: 2009-03-26 11:21 Meanwhile, Brown reiterated his opposition to protectionism, which is gaining ground in the economic downturn. "I tell you if there is anything we know from history it is that protectionism is the politics of a retreat and fear and in the end, protects no-one at all," he said.
Brown said the IMF's lending resources should be at least doubled to US$500 billion to help countries faced with a flight of capital. Currently, several Eastern European countries are in difficulties amid the financial crisis. Brown said his message to Eastern European members of the EU was "We will not walk away from you at your time of need, but will do all that we can to be at your side." He said he believed that the world could for the first time agree on the big changes necessary for coordinated action "that will signal the beginning of the end for offshore tax havens and offshore centers." Brown was in the European Parliament on the first leg of a trip that will include New York and South America, which was designed to rally support for a successful outcome of the G20 summit in London next week.
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