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Gordon Brown belittled by fellow G20 members

While only 12 months ago Gordon Brown's reputation was sky-high amongst the developed economies of the world and his fellow G20 members things have changed!

Even though they say a week in politics is a long time, a year for G20 members has seen a massive turnaround in reputations and power. Gordon Brown, once the darling of the G20, has this week been ridiculed by his fellow members over his plans to tax global financial transactions.

While initially the plans seemed to have gained a positive response from other members, the US government has now come forward and has effectively wrecked his plans to introduce this "excessive" tax regulation. Such is the open resistance to this particular proposal that it was not even discussed in the finale to the latest G20 meeting. As the US government has effectively stepped forward to block the plan it now seems doomed to failure and Gordon Brown will yet again walk away with "egg on his face".

Only 12 months ago Gordon Brown appeared to be the saviour of the developed world with his revolutionary plans to take stakes in local banking operations and pump money into the financial system. However, the US, Japan, Germany and France have all pulled out of recession but the UK economy is still struggling. Gordon Brown has been left severely weakened by his inability to pull the UK out of recession in the short term.

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