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UK: Brown pushes $100bn global fund
BBC ^ | Thursday, 26 March 2009 20:28 GMT, | BBC Staff

Posted on 03/26/2009 2:55:08 PM PDT by Ernest_at_the_Beach

UK Prime Minister Gordon Brown has called for a $100bn (£69bn) global fund to underwrite world trade as his pre-G20 summit tour continues in Brazil.

Mr Brown is on a three-continent trip ahead of next week's London summit.

He was speaking after holding talks with Brazil's President Luiz Inacio Lula da Silva.

Brazil's exports fell 25% in the past three months and the PM, who will also meet ex-football hero Socrates, urged the World Bank to provide trade credit.

Trade finance

In a joint statement, the two leaders called for measures to boost global economic demand and for action to protect emerging market economies from financial volatility.

Mr Brown argued that the credit crunch has led to a collapse in world trade, affecting economies of all sizes, and that support was needed to help rebuild it.

(Excerpt) Read more at news.bbc.co.uk ...


TOPICS: Business/Economy; Foreign Affairs; News/Current Events
KEYWORDS: globalfinances; uk
Video at the website.
1 posted on 03/26/2009 2:55:08 PM PDT by Ernest_at_the_Beach
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To: Ernest_at_the_Beach
Obama laughs at that measly 100 billion and raise you 100 trillion!
2 posted on 03/26/2009 2:57:29 PM PDT by avacado (Impeach the Teleprompter!!!)
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To: Ernest_at_the_Beach
In the big scheme of things, $100bn isn't enough to buy a slingshot or a peashooter.

It is enough to fund a very cushy lifestyle for a few thousand select elitist bureaucrats, however.

3 posted on 03/26/2009 2:59:17 PM PDT by KayEyeDoubleDee
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To: Ernest_at_the_Beach

A single hundred billion dollars wouldn’t buy Obama’s breakfast.


4 posted on 03/26/2009 3:01:23 PM PDT by SeeSharp
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To: avacado

You beat me to it. Damn.


5 posted on 03/26/2009 3:08:21 PM PDT by hkp123
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To: Ernest_at_the_Beach

Somehow... $100 billion doesn’t seem like a lot of money anymore.


6 posted on 03/26/2009 3:24:54 PM PDT by April Lexington (Study the constitution so you know what they are taking away!)
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To: Ernest_at_the_Beach

After getting bitch slapped by nigel Farage he goes about his business like nothing happened. Amazing!


7 posted on 03/26/2009 3:26:13 PM PDT by ronnie raygun (LONG LIVE THE REPUBLIC!)
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