Playing Well With Others
Robert Peston notes that because the financial crisis is a global problem a A global solution is needed. Much of the recent chaos has been the result of people looking for a safe haven for their money, and they now have the entire world to choose from, so if there isn’t coordination, huge sums are going to be zipping around as people look for the best place to leave their money until the situation stabilizes.
The G7 countries are meeting in Washington this weekend and while they seem to understand that ‘Urgent action’ is needed, we can only hope that they understand the need to coordinate things.
The current prime minister of the UK, Gordon Brown, has an advantage that the other leaders don’t: he was Chancellor of the Exchequer [Secretary of the Treasury or Minister of Finance] for 10 years. In military terms we would say he “has more time in grade, than the others have in service”, meaning he has more direct, hands-on experience with the financial system, that the other leaders have in government. He seems to really understand the problem, and seems to have the best ideas about solving it.
The G7 has to announce a convincing plan before the markets open in Monday, because every day there is less to save.
6 comments
Off topic: thanks for your support on my blog. I was feeling kinda down about it. *hugs*
OT: LK, it’s not your problem, it’s their problem.
If they would like an illustration I could probably arrange for them to meet the alpha tom of my feral crew and Sox. Sox is twice as big, but there’s no doubt who wins when they get into it. Sox doesn’t understand the rules which is why I do my best not to let him get out. The alpha tom will take on every male in his area because he has a pair. The only thing he’s afraid of is the alpha female who is half his size, but an experienced mama cat.
Someone should take them to a farm to help them figure it out.
I looked at your post, and thought you posted “Robert PRESTON”…..lol…of course, I am watching How the West Was Won right now…..lol….
Sorry, this is Peston the economists and scourge of UK business circles.
I liked the movie, BTW.
Yes, Robert Preston was hardly a scourge!
Well, there was “The Music Man” 😉