Word: browne
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...left out one of Australia's environmental heroes, Senator Bob Brown, of the Greens party. Colin Kennard, Brisbane, Queensland...
...coolly torpedoed his proposed $409 billion Europe-wide financial rescue plan. No money for the greedy fools of other lands, she seemed to say, only to then guarantee German private bank accounts and save Hypo Real Estate. That followed similar moves by Ireland and Greece. And Britain's Gordon Brown will always be loath to see Brussels lay its regulatory hand on London's City; his recapitalization of Britain's banking sector was no less unilateral than Merkel's actions...
...what has been a remarkably bubbly period for London. Over the past decade and a half, ever since its last protracted downturn, the British capital has transformed itself into Europe's indispensable financial center. Leaving Frankfurt and Paris in the dust and encouraged by the policies of Gordon Brown, the current British Prime Minister, it has become a magnet for people, jobs and investment from around the world. The big U.S. banks made London their international hub, and the major continental European banks moved much of their trading and investment banking operations there. About 70% of international bonds, one-third...
...Britain and elsewhere. France's CAC 40 closed 6.3% lower on the day, and Germany's DAX lost 5.9%. Certainly, at least some of the downwards momentum was generated the day before by sinking New York shares and rocky rides in other stock markets across the globe. Brown believes elements of the plan he has stewarded for Britain could also be applied in other countries to help to reduce the turbulence buffeting his own economy...
...Maybe so; Brown cuts a convincing figure abroad. But he finds it harder back home to win over doubters to a plan that could cost British taxpayers dearly, though he promises they may eventually earn dividends from the investments backed with their own money. Yet the crisis has had a bracing effect. A recent mutiny against his leadership in Labour ranks evaporated after a bold Cabinet reshuffle, and rebels shrank back from a coup attempt at such a tense time. "Who would have dreamed that a financial crisis would have given Labour a lifeline?" former Home Secretary David Blunkett wondered...