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Alistair Darling infuriates German and French governments

Ahead of this week's G-7 summit Alistair Darling has again called for his European counterparts to pull together and take the lead which the US and UK government have taken with regards to bailing out their respective banking systems. While he has not mentioned France or Germany by name, it is widely understood that his comments are aimed at the two European giants who have yet to announce any rescue packages or stimulus packages for their respective banking industries.

While only a few weeks ago this call from Alistair Darling would have reached the headlines and demanded respect from European partners, the ineffectiveness of the UK bailouts to date has greatly undermined his position. Countries such as France and Germany, who have held back from massive financial investments into their economies, can now take stock of what has happened to other countries around the world and adjust their actions accordingly. Whether the French and German governments can learn from US and UK "mistakes" remains to be seen.

While there is a feeling that all EU partners and worldwide governments will need to act together to reduce the chances of a worldwide depression, the initial signs of unity are starting to evaporate.

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