British PM: We Need ‘Global New Deal’

It’s time for teamwork, according to British Prime Minister Gordon Brown, who made a call for unity — and a “global New Deal” — during a meeting about the worldwide economic crisis with other European heads of state over the weekend.

CNN:

“We need a global New Deal — a grand bargain between the countries and continents of this world — so that the world economy can not only recover but… so the banking system can be based on… best principles,” he said, referring to the 1930s American plan to fight the Great Depression.

Brown was speaking as the leaders of Europe’s biggest economies met to try to forge a common position on the global financial crisis ahead of a major summit in London in April.

French President Nicolas Sarkozy said the world’s response to the global financial meltdown had to be profound and long-lasting, not just tinkering around the edges.

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