Not content with saving us poor souls in Britain, our Dear Leader now wants to save the world – and says so in tomorrow’s Times. He is demanding that other dithering countries copy his bold plan. It’s become the major theme of Saving Private Gordon – that the rest of the world will be inspired by the Dear Leader and show their love for him by adopting a similar bank recapitalisation scheme.
Brown has mentioned the international element of this so often that I have started to smell a large, whiskered rat and I’d like to run a theory past CoffeeHousers. Gerard Baker tells us that the G7 had been talking about a co-ordinated response to the financial crisis. Originally the G7 wanted to announce the 50bps interest rate cut at their meeting in Washington this weekend. But their central banks (all nominally independent) wouldn’t play ball and wanted an independent Wednesday announcement.
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