Has Gordon Brown been gazumped by EU leaders?
As Gordon Brown was shuffling up next to Barack Obama in the US it appears as though his EU counterparts had hatched something of a plot to discredit the British prime minister. At exactly the time that Gordon Brown was in talks with Barack Obama and suggesting closer links between G20, EU and the US authorities the Czech prime minister was standing to attention in the EU Parliament describing Barack Obama's financial recovery plan as "the road to hell".
While Barack Obama made no direct comments regarding the attack in the EU Parliament it is known that this has not helped the worldwide economic situation with the US authorities more likely to "go it alone". There has been significant criticism around the world regarding Barak Obama's ongoing financial rescue plans which have now moved into the trillions of dollar. However, the attack by the EU Parliament was wholly unexpected and came just 24 hours after Gordon Brown had pleaded with his fellow EU members to try and work with the US authorities for the better of the world economy.
Gordon Brown is very much on the road to a crossroads in his political life and looks likely to be forced to choose between the EU and the US as neither party can apparently agree on the way forward for the worldwide economy.
Share this..
Related stories
Has the UK banking industry changed forever?
The UK banking industry has been demonised over the last few months as the UK government and various regulatory authorities continue to attack the sector. The truth is that the UK banking industry is central to the UK economy and is the oil which allows the wheels of the UK economy to turn, consumers to lend money and businesses to finance their operations. There is so much pressure on the banking...
Read MoreKraft Foods set to take control of Cadbury today
Today is D-Day for Cadbury with Kraft Foods expected to top the 50% acceptance level which will give the company complete control of Cadbury. If, as expected, the figure is breached later today the company will officially "receive the keys" to Cadbury at around 5 PM today. So what does this mean for the company? When Kraft Foods officially reaches the 50% shareholder acceptance level this will...
Read MoreDo I need an overdraft?
The subject of overdrafts, and overdraft fees, has been in the financial press for many months now and will continue to grab the headlines for some time to come. However, there is no doubt that many people across the UK make good use of their overdrafts to give themselves a buffer between unexpected expenditure and everyday spending. But do you actually need an overdraft? For many people the ve...
Read MoreDo not forget the threat of swine flu!
While the UK press would appear to have forgotten about the issue of swine flu, after a reduction in new cases in the summer, there are signs that the virus is back again and could cause massive problems over the winter time. Many people forget that traditional influenza is more commonplace in the winter period, something which will be reflected in the ever increasing number of swine flu cases.
Inflation or deflation, take your choice
News that core inflation in UK fell from 2.2% to 1.8% in June has been welcomed across the City but there are still fears for the future. Reduced demand in the food sector has seen prices fall with many experts expecting core inflation could fall below 1% in due course. However, when you add back in mortgage payments inflation is actually negative at -1.6% in June against -1.1% in May.