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British Prime Minister Gordon Brown is going on a stimulus tour. In an effort to get a global consensus or a multi-national fronted thrust for greater fiscal stimulus and better financial regulation, the Prime Minister is calling on heads of states to follow his and US President Barrack Obama’s example.

Just like President Obama, Brown believes that more spending and perhaps a sustained fiscal stimulus will help solve the economic crisis or at least minimize the effects of it on the people. The strategy is largely a popular one in the United States as it is proposed by a very popular President. On the other hand, here in England, there have already been several doubters of such a plan.

Speaking in behalf of the Bank of England, its head Mervyn King warned against more UK spending. King believes that spending is not the way out of this mess. Brown however has taken this in stride. He thinks that by taking it on the road, he might gain some positive responses which could in turn sway the tide in his homeland. On Tuesday, Brown addressed the European Parliament in Strasbourg.

Next on the agenda Brazil, followed by Chile and then New York. He hopes that by the time that the G20 convenes next week, most countries would have already given it some thought. Brown understands that this matter is a sensitive matter to all nations and with the economic bonds of all nations due to globalization, each nation pulling its own weight can mean a lot.

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This entry was posted on Thursday, April 2nd, 2009 at 7:46 pm.
Categories: Economy.

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