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Did Hank Paulson snub Gordon Brown?

As Gordon Brown's whistle stop tour of the US continues there are suggestions from the US that the Treasury Secretary Hank Paulson has refused to meet the UK PM, instead deciding to continue work on the US led bailout of financial markets. In an embarrassing catalogue of events it seems as though the hoped for meeting with Hank Paulson was rejected out of hand and a hastily arranged alternative meet and greet with the President organised to 'save face'.

There have also been suggestions that Gordon Brown is working on similar bailout for the UK system but this has led to more concerns that UK Plc is being mortgaged to the hilt and could be in serious financial difficulties over the next decade. We have already seen the UK budget spiral to approaching £50 billion this year and expected to hit £100 billion next year, so where would the funding for a bailout come from?

There are growing concerns of a 'scorched earth policy' coming into play where massive risks will be taken to try and revive the UK economy which in the event of failure would leave the next UK government with very little financial flexibility. This really is crunch time for the UK economy.

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