BBC NEWS Gordon Brown will not run away from his responsibility for his role in the UK's economic crisis, he has told the BBC.
He told the BBC's political editor Nick Robinson Britain's financial woes were part of a wider, global problem, but admitted "humility" was needed.
But there is no sign of a “sorry”, he still blames the rest of the world for causing the recession, The Guardian “Brown, however, says this is not a typical recession caused by a government allowing inflation to rear out of control, but is instead the product of the failure of an international regulatory system to stay abreast of globalisation.”
He told the BBC's political editor Nick Robinson Britain's financial woes were part of a wider, global problem, but admitted "humility" was needed.
But there is no sign of a “sorry”, he still blames the rest of the world for causing the recession, The Guardian “Brown, however, says this is not a typical recession caused by a government allowing inflation to rear out of control, but is instead the product of the failure of an international regulatory system to stay abreast of globalisation.”
In the Downing Street G20 agenda document, No 10 insists that the British economy was in a strong position when it was hit by the US banking crisis.
The account reads: "The global economy was growing strongly when the sub-prime crisis hit. In the UK, the economy was close to trend, inflation was close to target, public sector debt was relatively low and unemployment remained low. The US economy was the first to slow, but the crisis quickly spread to other advanced economies."
The prime minister argues that the regulatory failure was not British, but lay in the failure to have an effective international system of surveillance”
Which he was responsible for because HE de-regulated the financial system.
“Denial is the tool of the arrogant” Angus Dei
Angus
Angus Dei on all and sundry
NHS Behind the headlines
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