Word: britishers
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From zero to hero, Brown now basks in international acclaim. A French newspaper dubbed the British pol "the resuscitated magician," and Paul Krugman, the freshly minted Nobel economics laureate, said Brown "may have shown us the way through this crisis...
Brown is in his element, a lame duck confounding expectations by soaring high. (Aides warn him against looking cheerful.) His critics take comfort from history: an ungrateful British public voted Churchill out of office at war's end. Still, by that logic Brown is safe until the financial turbulence subsides. For a Premier who only a month ago was staring defeat in the face, the world's economic nightmare looks like an economic miracle...
...hear is the sound made by Treasury officials tearing up their 2009 budgets. With the economy slowing, tax receipts are lower than expected, and in Britain, France and elsewhere government spending is higher than forecast. Now comes the bank bailout, and with it, a huge increase in government borrowing. British Prime Minister Gordon Brown has been the first to detail his national package, and it's making fiscal hawks shudder. It involves injecting up to $65 billion into three British banks - Royal Bank of Scotland, HBOS and Lloyds TSB - in exchange for equity stakes...
Minister of Health Gudlaugur Thór Thórdarson agrees that Iceland has sustained a blow to its psyche - "especially when Gordon Brown uses antiterrorism laws against Iceland," he says, referring to the British Prime Minister's move to invoke an antiterrorism law to freeze Icelandic companies' assets in the U.K. "The people here not only suffer financially - it also makes us feel bad." Indeed, says psychologist Ólafsson, "Icelanders have always seen themselves as an independent people, and now we simply can't be as self-sufficient...
...Breton said. “People want healthcare and education, but with which money? People are mad because they don’t know how the system will work for them.” Sir Ronald Cohen, known by some as “the father of British venture capital,” called on the audience to employ their skills to help the less fortunate. “We must use the methods that each of us learned at HBS to solve the world’s social problems,” Cohen said...