PM calls for international action

Sep 26 2008

Gordon Brown has demanded an end to "the age of irresponsibility" in the financial sector ahead of emergency talks with US President George Bush.

At the end of a visit to the United Nations in New York, the Prime Minister is taking an unscheduled trip to the White House in response to the global crisis.

In an address to the UN General Assembly, Mr Brown demanded international action to rebuild financial systems to achieve long-term stability.

"Confidence in the future is needed to build confidence today," he said.

"And that confidence will be built by showing that what are global problems can also be addressed by globally co-ordinated solutions."

Setting out again his proposed reforms, he added: "This has been an era of global prosperity.

"It has been an era also of global turbulence, and where there has been irresponsibility we must now say clearly that the age of irresponsibility must be ended."

His last-minute decision to see Mr Bush in Washington comes amid bitter and protracted wrangling over a proposed 700 billion US dollar (£380.36 billion) bail-out for ailing banks.

The President has warned the US economy would be in serious trouble without it.

In his UN speech, the Prime Minister restated his backing for the plan and called on other world leaders to follow suit.