In a veiled warning to the next American President, Gordon Brown described
protectionism as the “road to ruin” yesterday as international tensions
surfaced at the start of the G20 summit in Washington.
As world leaders assembled for dinner at the White House last night at the
start of the two-day meeting, the backdrop was one of plunging sales and
surging unemployment. The New York stock market dropped 350 points after
official data showed that US retail sales had fallen by 2.8 per cent in
October, the biggest slide for 16 years.
The mood was darkened further with confirmation that the eurozone was now in
the grip of recession for the first time since the creation of the single
currency in 1999.
The news will add impetus to calls for internationally co-ordinated tax cuts,
public infrastructure projects and other measures to stave off a severe
global recession. Although some measures to reform international financial
oversight are set to be agreed at the G20 meeting this weekend, no
substantial deals are expected before the inauguration of Barack Obama in
January.
Mr Brown was already risking confrontation with the President-elect in barely
coded criticism of a planned measure to bail out America’s ailing carmakers,
a plan Mr Obama supports. “I do think it is really important that we send
out a signal today that protectionism would be the road to ruin,” the Prime
Minister said, in a speech to the Council of Foreign Relations in New York.
“If we get into a situation where countries made decisions irrespective of
what happened anywhere else, then we will see the same problems of other
times. The dividing line here is between an open society capable of trading
round the world, against a protectionist response that happened in the 1930s
and is totally unacceptable.”
The EU said that it was ready to take action against the US at the World Trade
Organisation if aid for the stricken US car industry was judged by the
European Commission as illegal under international rules. The US Congress
approved a $25 billion (£17 billion) aid package for American carmakers in
September, although no timetable was fixed for payments to be made.
Republicans on Capitol Hill oppose plans championed by Nancy Pelosi, the
Democratic Speaker of the House, to use taxpayers’ money to rescue the big
three car companies, General Motors, Ford and Chrysler. The industry employs
about three million people across the country, and iconic of the American
Dream. Wall Street is scared that should the aid be delayed, General Motors,
which gave warning last week that it would run out of money by Christmas,
will go bust.
Concerns over the deal helped to drive down stocks already hit by worse than
expected retail figures. Yesterday’s economic numbers also showed that car
sales fell by 34 per cent in the past three months, as Americans grew more
fearful of losing their jobs and banks slashed overdraft and credit card
limits. Consumer spending has a critical role in the US, accounting for two
thirds of economic growth.
Fears that the US unemployment rate was set to breach 7 per cent by Christmas
grew after Citigroup, the world’s biggest bank, said that it was laying off
10,000 workers.
The figures were grim on the other side of the Atlantic, too. Official figures
showed that the 15-nation eurozone economy shrank by 0.2 per cent in the
past quarter, on the heels of a similar drop in the previous three months.
Fears grew that the contraction was set to accelerate sharply in the present
quarter.
Germany was among the hardest-hit countries, with its economy shrinking a
hefty 0.5 per cent in the third quarter after a 0.4 per cent drop in the
three months before that. Italy suffered a similar 0.5 per cent cent
contraction, its worst slump for a decade, while Spanish GDP dropped for the
first time since 1993. The Irish Republic and Denmark are also now gripped
by recession. In a surprise development, the French economy continued to
expand in the third quarter — albeit with a meagre growth of 0.1 per cent —
defying predictions of a far worse outcome.
So far, eurozone economies — which account for 16 per cent of world output and
about 319 million people — have not seen unemployment rise rapidly but the
EU estimates that it will increase steadily over coming months. It is also
expected that the European Central Bank will be forced to cut interest rates
to boost demand; some economists think that the bank will reduce the cost of
borrowing by a full percentage point from 3.25 per cent in the coming weeks.
Differing agendas
United States The US is scared of new, onerous regulation and is urging
European countries to respect free-market principles on the basis that
long-term state intervention will damage economic growth. But US policy on
bailing out troubled industries is split: Barack Obama, the President-elect,
wants to use federal funds to rescue American car companies; many
Republicans do not.
Britain Gordon Brown has a long list. To start with, he wants
“co-ordinated fiscal stimulus packages” — which means getting countries to
increase public spending to create new jobs and offer tax rebates to
families. He wants the IMF to create a council of experts to monitor the
markets for danger signs — his much-vaunted early-warning system — and the
IMF’s coffers to be boosted by cash-rich states such as Saudi Arabia and
China. He is also calling for a clean-up of the banking system, including a
network of regulators to scrutinise the world’s biggest banks.
France President Sarkozy is also pushing for cross-border regulation,
meaning he wants to control French banks even when they are operating
outside French borders. He sees the crisis as an opportunity to depose the
US dollar as the king of currencies, and replace it with the euro. Mr
Sarkozy would also like an overhaul of the world financial architecture,
including making rating agencies more regulated and forcing accounting
standards to be the same worldwide.
Germany The Germans are deeply suspicious of secretive hedge funds,
which control about $2.5 trillion worth of assets and whose activities are
not regulated. They blame the hedge funds for market volatility and driving
down shares by short-selling. Angela Merkel, the Chancellor, also backs
greater powers for the IMF to oversee international companies, revised rules
for rating agencies and making it harder to hide risks off company balance
sheets.
Russia President Medvedev wants more say in the IMF, so he is teaming
up with Mr Sarkozy to back President Bush into a corner. He wants
alternatives to the IMF as lenders of last resort and is willing to
contribute to the cost of the new agencies. Russia has also pressed for
international budgetary and economic rules to prevent any further crises
China China wants to press the West for a bigger role in global
financial bodies such as the IMF but at the same time it has been trying to
lower Western expectations that it will join in global actions. It cites as
reasons its own economic problems and limited resources as a developing
country.
Brazil and other developing nations These want changes to the voting
structure at the IMF and the World Bank’s to give them more of a voice.
Richard, Georgetown USA. Execellent point. You cannot support an industry that supplys goods to the market that nobody wants to buy. The motor indutry in the US has been spending $2 billion a month from its own reserves to support itself. The US govt will have to spend far more.
Gavin, Ashby, Leicestershire
If the USA continues on the course of importing cheap manufactured goods the only export will be of our jobs and money. We must support a industry that still has jobs in the USA and bring manufacturing home. With globilization our economy is doomed to slide to only downward.
Don, Midwest , USA
The UAW has had it's way and had it's day. The Union has bankrupted the American Auto industry. Let GM, Ford, Chrysler go bankrupt. Buyer's will emerge that will reorganize these companys, get rid of the UAW, and more jobs will be created long term. The UAW workers will have to unorganize.
Jeff, Newton, USA
all you that are for the big 3 bail out best think it over real good. what sense does it make to bail out the auto industry? just to give them money (WE DON'T HAVE) for them to throw away on cars that are not being sold? wow you people are the most educated idiots ever. let them fail and reform.
joe, iowa, usa
The US legal system already provides for the car companies to protect themselves from going away by declaring bankruptcy protection. All three refuse to declare, therefore are not able to limit the burdons of their money out flow. No further bailout should be provided. Good product = sales.
eric, Chicago, USA
As a large part of the Arsenal of Democracy, the US automakers helped defeat Hitler et al and win WWII. The Big Three are a vital part of the National Security of the US. That said, the first condition of a bailout is to throw out the UAW. They are reason #1 for the trouble. Bad management is #2
Walt, Beaverton, USA
If you want your 401k to be worth anything at all next year, you will support the bail out. And by the way, the government ended up MAKING money on the Chrysler bail out.
Mike, Bettendorf, Iowa
Rescuing the Auto industry is now akin to "protectionism"? The American manufacturing sector, and it's manufacturing might, which includes the auto industry, was the reason this country and it's allies, defeated facism and won 2 world wars. This isin't protectionism, it's survival of all we know.
Mike, Keansburg NJ, USA
to andrew ,shangai china
the biggest polluter in the world is china with it's coal mines.they have been burning underground for centuries.don't make comments until you check out the facts
gordon, huron, usa
The capitalist system rewards those companies that serve the consumer by making a profit and remain in business.
Companies that don't make a profit and therefore provide something the consumer needs are punished by going out of business.
GM needs to make way for more nimble performers.
John, Minne, USA
The Auto Industry is global, they all own each others stock, I work for a tier 3 company (which doesn't get the salary of benefits of the majory companies) and we make parts for everybody. My being laid off is hurting the businesses I buy from. Houses and cars, that is the middle class.
lyle , muskegon, U.S.A.
Harley davidson almost went out of business as well back in the early 80's and what saved them? Putting tariffs on the crap coming from japan, Harley then went on to enjoy decades of nice fat profits and Harleys became the marquee big V twin to own. Why not so the same with the auto industry.
BIE, Lancaster, USof A
Throwing more cash @ the automakers is just delaying the inevitable, the root of the problem needs to be addressed they are not selling cars!! Look at the numbers down 30 -45 %. rebate checks from the fed for buying a vehicle from the big 3 will be much more helpful and address the problem.
Rich, NY, USA
The government needs to stop bailing out all of these failing companies. There is a very good reason why the auto industry is failing... they are failing to produce vehicles that are in demand. They have had over a decade to start producing cheaper, more fuel efficient vehicles.
John, New Haven, CT, USA
at the old times the first american dream was to have a car lets go back and help the first dream first thank's..
ed, el cerrito , USA
Like a forest fire, bankruptcy can help a thousand new trees grow. There is ample private capital and entrepreneurial talent around to build a new auto industry if government allows it to happen. Sure, some of it will be foreign owned, but until we can turn the balance of payments that's our fate.
Bob, Lexington, MA, USA
UAW you aint working Their big problem was only one union. They sould have had to compete.
Paul Nickola, Flint Mi , USA
if assembly line workers did not make such redicilous salerys mabey more americans could afford to buy cARS.the u.a.w. needs to agree to cut its salery and fringe to keep gm and others solvent or all auto workers will be out of a job like the thousands of people already. a bailout is only a stopgap.
joe kuhn, new port richey, florida U.S.A.
US automakers should reorganize under Chapter 11. If they can't get financing, the US can become their super-priority lender, thereby protecting taxpayer money. As a condition to the financing, they will have to change their business model.
The US should also raise the gas tax to keep pressure on.
Stephan Gleich, Great Neck, USA
Free market and free enterprise should be just that. Companies that cannot perform have to be let to die a natural death. Better companies will emerge and take their places. The minute you start bailing out some companies, how about the other industries that are suffering?
Paul, Vancouver, Canada
The big problem with bailing out the big three, is if they don't break their union contracts, and pay their people more in line with normal factory work, instead of the $100,000+ they make, then even after spending 25 billion USD, in a few short months, we'll be right back where we are today.
Ross, Statesville, USA
china pollution is the worst of any country. i build emergency vechiles ambulances . god help you all if gm and ford fail.cause we lose our jobs you lose your lives. no ambulances to respond to your needs. good luck.
bill, creston, usa
I think it's time for Ford and GM and any other "in Trouble" Automaker to go Private and Employee Owned . I don't think the Unions do Employee owned Co. So this way the Employees Can Make the Best new energy efficient Auto's in the world and not Have "Management" breathing down their backs.
Wilson, Tucson, United States
Dan, you're absolutely right. Thanks to the likes of Socialistic moviemakers like Michael Moore, a lot of people think the grass is greener on the other side. Nobody, including him, stopped to interview the average person on the street struggling to pay their bills to ask them how they felt.
Susan, Augusta, USA
President Taft had a electric car back in 1909, so the U.S. Auto industry has been supressing technology for the last 100yrs. If the U.S. wishes to be a global leader then it needs to stop supressing technology so that certain industries can make more profit . ex. Drug Companies in our health care.
Gregory Johnson, Cleveland, USA
It's quite funny to read comments made here by Americans. Some complain that EU countries give more benefits to workers and even that Airbus is subsidized in Europe. Sure but those benefits given by the government instead of the companies are because of higher taxes. And how about Boeing in the US?
Dan Deatcu, Toronto, Canada
For globalism to truly work all countries will have to be on the same level economically. Unfortunately not every country can be brought up to the developed world's standards. This means the developed world will have to be lowered.
William B., Kennewick, USA
I think that the auto industry should take care of themselves! Why should CEO's of the auto industry and the banking industry still make millions and there industries fail? All the CEO's should loose there jobs. Poor management has what got them there. Why should tax dollars bail them out?
Carol, Fremont, USA
To all those who said that Brown is the root cause of financial problems, are you suggesting it was Mr. Brown who told Fannie Mae and Freddie Mac that it was ok to bank on trailer-park Americans paying their mortgage back? With all that influence, he could solve he present crisis in a jiffy!
Rhys James, Cambridge, UK
Oh, it's OK for Europe to back and support Airbus but not so for us to back the car companies. Looks like taking care of your own is only good for some.
Nick, West Chester, US
Gordon Brown has wrecked the British economy and now wants to wreck the world economy with his failed policies. Does he not realise that when the Asian economy also takes over our service industries there will be nothing left to earn the goverment revenue? Globalisation is dead!
hughie, Horsham, UK
Well, "protectionism" or should we say recognition of the national interest seems to have served China and Japan pretty well.
John, Toronto, Canada
If we went to war with someone would that solve the economic problem,we could invade switzerland and steal their money,then we would all be rich.
Eddy, Bury St.Edmunds,
end of the day there focus for failing auto manufacturers is being dragged away from reality. the "global meltdown" is a smoke screen for failing product that sells nowhere but the US, of gas guzzling rubbish that no other country wants. Time to put the Uber polluters down. Good riddance!
Simon, Cape Town,
Gordon Brown is not my cup of tea at all, but, on this occasion he has got it right.
A cash bailout this time is a definite No NO.
Prudence Eely Bond McGuire BA, London, Engand UK
Tell that to the ex Rover workers Gordo that free trade is a good idea. Brown is spokesman for China, Korea, Japan, East Asia and all other low cost (no welfare) economies. Free trades impact is debatable - look at the impact of the deindustrailisation of Britain
Ian, London,
Good on you Gordo,sort out the baddies,Wall St,the City and all the other Tootsy-Futseys.while your at include the Drug pedlers,the chemical Inds.Im 65 next week and looking foreward to the New Year.
roger, Blaencwm, Wales
Seems logical to get banks under gov't control by bailing out & keeping a closer eye on transactions cause they support credit system. Car manufacturers are just like other companies experiencing sales downturn. It's the responsibility of those big bonus earning management teams to keep them afloat!
sara, london,
So G.B. wants an early warning system! Is he telling us he never saw this coming? Plenty pundits did. There was open season o. Messenger shooting as I recall. More proof of detachment I'm afraid.
Ps I saw it coming. Any chance of a job on a super quango?
Tom Taylor - Duxbury, Ludlow, UK
Prudence Brown is always telling us that we are much better placed in this recession that the other EU countries. Then why does his plan rely so much on other less placed countries doing what he wants them to do?
Labour and the economy they have so much to answer for.
steve tea, manchester, cheshire
Surprisingly strong and candid, but largely onto a loser here. He underestimates the strength of the unions and the easy virtue of federal and local governments which share a bed with industry . It's too close to Thanksgiving to have the turkeys vote for it now.
Shocker, Cambridge, UK
I haven't seen an Amercian car where the doors have fallen off. The reason way American cars makers are suffering is because of the credit crunch. The British car industry failed to make decent enough cars and thus they didn't sell enough cars. Mr Brown is out of his depth!!
CM, London,
Brown may be abroad but his remarks are aimed at the voters at home. The new American president will make up his own mind on what to about the US auto industry and Brown knows it.
Simon Marshland, Bath,
I suppose Brown made you brorrow money abocve your means and spend it on nice cars clothes and going out.? Or are most of you not grown enough to realise that what you borrow you need to pay back.
It's all about blaming others like Brown except yourself.
Jonathan , London, UK
What about Northern Rock? Is this not the same policy?
Blake, Nottingham, UK
Brown is no different from any other career politician. When it comes to protectionism he will protect his personal status/wealth/power. His actions are driven by politics not economics. Look at the man's cv - would you employ him - I doubt it.
Sean, Glasgow, Scotland
The arrogance of USA is a big part of the mess that we find ourselves in today. For decades America via its auto makers guzzled oil like it was going out of fashion and helped to make the US the biggest polluter in the World. Now they want to be bailed out - what happened to free market economics!
Andrew, Shanghai, China
Times change. Industries come and go. The era of Detroit is over, let Henry Ford rust in his grave.
Bob, Reno, USA
This is Brown in characteristic 'do as I say, don't do as I do' mode. One rule for him, another rule for everyone else. It's what we in the UK have been having to put up with for years. America, kill two birds with one stone - save 3m jobs and reform fuel efficiency practices. Don't listen to Brown.
James David, Newcastle upon Tyne,
No country should ever give up a car industry.
It is the back bone of all industry
and with just in time practice it is many other companies that fail at the same time from the complete loss of a sole client
Peope must never forget the parts manufacurers
Nicholas Iles, Oswestry, Shropshire, United Kingdom
The US doesn't really have much choice, especially in recession. the big 3 support 3x their actual factory workforce in a kind of socialist layoff system where people laid off work 30 years ago still make most of their sallary and get various benefits. Imagine what happens to the economy without it?
Adrian , Sacramento, brit in California
The American automobile industry should be preserved, even to the extent of banning the import of foreign vehicles. Obviously it is cheaper to make a car in a foreign country where the worker is treated to a low standard of living. Globilization is in the interest of corporations and not labor.
Payne, Honolulu,
P.M Brown has been chancellor long before he became Leader. He knew who is behind the problem we face, and they have us where they want us, War's is how they make their money, and use it to cripple countries with debt after. America is paying 10 Billion per month for its adventure in Iraq, plus Afg
Daphne Kenward, Cambridge, UK
I wish I could save this country from the future of what is to come, regarding our economy and the social peoblems as a result. I hear about politicans speaking about how God has spoken to them, I wished they had listened, because we are going to need him. Interest rates is going to cripple us & TAX
Daphne Kenward, Cambridge, UK
So now our beloved leader, not content with ruining the UK economy, seeks to lecture the US on how to conduct their own affairs.
Obviously, he is beginning to believe his own spin machine, aided by the BBC.
The man is seriously deluded and needs help. We need an election.
john j, rye, UK
So Brown is quite happy to shell out Billions of pounds of our money to help the banks but states it will cause havoc if Pres-elect Obama bails out GM. Pray tell me how saving possibly 3 million jobs in the USA will cause havoc Mr Brown. Obama wants to help US industry survive,so good on him.
Ian Challen, Wandsworth, UK
Various organisations have been fortelling of the impending bust and Brown time and again said that they were wrong. So there is an early warning system in place already, it was saying what they did not want to hear. Will another early warning system change that?
spencer, london, uk
Do not take Mr Brown's advice. He was the Chancellor that led UK PLC into this mess. We are are now one of the most vulnerable and weakest major economies in the world. Tony Blair has made his millions and his war, and left the UK a weakened country. Lets ditch this governement .
Chris Stuart, Carentan, France
Bring on protectionsim, let's keep jobs in the u.k., u.k. jobs for u.k. workers. Let's build a wall around the coast. We have exported jobs, imported cheap labour and robbed British people of a decent living, who benefitted The City....banks, the square mile.
Paul, Birmingham , England
The "Rust Belt" has already lost hundreds of thousands of jobs due to the lose of the steel industry. Having moving into fuel-cell and nanotechnology research to remain competitive in the automobile industry, they are hardly likely to give up on that industry now.
Michael, Edinburgh, UK
Free Market Principle and the Policy of protetionism, over pricing the Western Goods and Services to exploit Developing Countries. See all this Greed resulted in this mess we are in now! This is the time to take a hard look at the Individuals and Institutions who developed a system of oversellig.
A Peters, Birmingham, UK
Brown is an embarrassment, world wide?
mark a, warrington, england
Excuse me! Don't the U.K.,Japan,China,Germany,France,Korea etc.all provide government paid health and other benefits to their autoworkers. I have been waiting for years for someone to explain to me how this is free trade. Let's ALL go to the WTO and lay it all out. Ridiculous!
MDREATTA, Pawling, USA
What about EU protection of their farmers for the last 40 years, and now Brown is supporting the UK banking sector. Australia is probably one of the least protected countries in the world and we are probably in the best position to survive the current financial crisis because of this.
Grant Hutton, Brisbane, Australia
All governments and their leaders will claim protectionism is to be avoided in order to resolve the global marketplace when in reality they will do all they can to protect their own markets.
At a time of falling jobs, job protection will be key. Take what they say with a large shovel of salt.
Joe, Geelong, VIC Australia
We also worry about the devaluation of the Pound, as we have seen a decrease in the amount of the much appreciated British tourists here in Florida.
Not all Americans are just about "looking after #1" as James above stated. Many are angered about another Government bailout of the auto industry.
Tom, Florida, USA
Mismanagement and greed should not be subsidized by the American taxpayer, or anyone else for that matter.
It is a fact that poorly run businesses fail and the automotive industry should be no exception to this rule. Let them file for bankruptcy under Chapter 11 and permit the system to work.
Charles J. Shaw, SHICKSHINNY, USA
Bring back protectionism there is more to life than being efficient in the market.
I would prefer to live in a country that was poorer in absolute terms but where everyone had enough and we didn't have to rely on foreigners and imports.
Tony , Worthing ,
Get lost, he'd be the first to bail em out if they were UK co's. EU:Germany is already rescuing Opel/Vxhl there, Ford is next. All german autoco-banks get aid too-it's very much a refianancing aid which might not cost anything in the end.
Wait for Ford/Vxh demos in ParlSq and what he says then!
George, golfer,
Georg from Iceland, you refer to Mr.Brown and his government as incompetent. You seen to have overlooked the financially and morally bankrupt Icelandic government.
Steve, Manchester, UK
At least car companies actually make things and sell them in exchange for real money, unlike Brown's beloved financial sector. I suspect the US will take Brown's "expert" advice with a large pinch of salt!
Chris, Cheltenham, UK
The voters wanted change. So no experience Obama offers us the same tired insider retreads for his cabinet from Pres. Carter and Clinton. Some change. Now he wants to give the auto industry billions to keep making cars. The problem is not making cars, the problem is selling cars. Wake up.
William, Stuart, Florida, USA
Of course protectionism is damaging but then so are the many trading practices that have supported the rise of China and other Asian economies. If emerging economies fix echange rates and inhibit capital flows with that result that trading "partners" are beggarded then they must expect a response.
John Stobart, Oakham, Rutland, UK
US auto companies must reform!
They've been outmoded for at least 30 years.
Obama will appoint a car supremo who will
write the blueprint for new age auto industry.
Leigh Vernier, Riyadh, saudi Arabia
When the US government bails out general motors it should be conditioned upon changes in how the company operates and major changes in its union scale , cost and rules. This company has pumped out poor quality, gas guzzeling, glitzy overpriced sheetmetal for a long time.
richard , georgetown, usa
Hmm, and what about Northern Rock, did Brown not save that Bank ?.
mike, london, uk
Globalization has been a financial and cultural disaster for the west. The US should pull every last troop and dollar from overseas and take care of it's own. Politicians and monied elite insist we're the policeman and grocer to the world. Let them move to Asia and in the global marketplace.
hodson, mason, USA
One main thing that I believe that the UK and US governments should bring in immediately is complete ban on ALL betting on any company shares at all . That way we will go back to basics a bit and the companies will become less of a plaything of speculators making money at everyone's expense
John, Woking, Surrey
It some what worries me when Mr Brown is attending G8 meeting in America when he should be spending all of his time attending to the needs of this country. We should be negotiating to get into the Euro at a fantastic rate, as payment for Brown leading the Euro zone out of recession!
Ray B., Newcatle upon Tyne, UK
So George of London, what happens to well paid manufacturing jobs when the like of Ford go bust -- more underpaid call centre work. Get the big picture and look at how many jobs rely on the motor industry, along with health care etc in the US. As a proud Ford worker I hope the US ignore Brown.
J Thomas, South Glam, UK
Bailing out the car companies is a complex issue. Their business plan back to success is a necessity to decipher the risk. Some would say this would open it to a debate that would never end. Can we though trust the management that got them here? I tend to think not. Free markets work. Let it be.
Phil R., M.R., USA
The recent UK prosperity was based on reckless borrowing by a public who thought they would never have to settle their debts. Well, time's up folks! We can live with the painful consequences now, or print money to be paid back by our children. Mr Brown doesn't look so prudent now.
Cliff Forsyth, Pinner, UK
As an international statesman Brown is a nonentity; as a PM he is a waste of space and as a financial wizard the next generation will inherit his brilliance. Better he keeps his mouth firmly shut on what others are doing and focuses instead on making some attempt to do the job he is paid to do.
Richard Crow, Warsaw, Poland
Doesn't he make you laugh, veiled threats to President Elect Obama. He really thinks he matters. Better be careful Gordon. Mr Obama might turn nasty, then where will you be?
As Brown is at the root of the cause of these problems, I'd rather hear someone else's solution.
tris, dundee,
this now shows how incompetend mr brown and his government is
georg , mosfellsbær, iceland
Why is it a crime to bail out an American car company but good management to bail out a British bank?
Christopher H, Canberra, Australia
Having casued much of the problem, it takes a peculiar type of man, with a particular type of gall; to ignore his complicity and proclaim himself the man with a solution.
Mike, London, UK
the difference is the us have a car industry to protect - there is no longer a uk car industry - jaguar owned by the indians etc. tell me why gordon b thinks we should see the devaluation of the pound continue by his continued policies.
john, puerto escondido, mexico
Brown is right!
Don't bail out the car companies.
Go on Brown, tell it like it is!
George, London, England
What did Australia's PM say? You know Mr Kevin Rudd is a super hero to Australian working families.
Bruno, Perth, Australia
11 years of Brown's policies have significantly contributed to the current mess in the UK. His economic policy has been a failure. The UK's past decade of growth has been founded upon unsustainable debt without any real wealth creation. The US I'm sure will ignore his self assumed sage advice
GS, Uttoxeter, UK
Well sorry Gord but the US are going to look after number 1 and dont care what you or the rest of the world think, the EU can threaten whatever they want but havent the guts or strength to carry it out. The US want to protect their jobs and economy! Ford have plants here too!!!!!!!!
James cross, Pembrokeshire,
Mr Brown presided over the ruin of our economy and still continuing to do so. He should refrain from giving advice to any other Government. He is no superman. Solution to the last depression is not necessarily the solution for this. Stop fighting current problems with soutions of the past.
raj, H=harrow, uk