Would the real Gordon Brown please stand up? - A Good Reference Point

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2008-10-31 (All day)

European officials are rubbing their eyes in disbelief as the prime minister basks in international admiration as the saviour of the global banking system and an apostle of cross-border financial supervision. Is this the same man who in 10 years as Chancellor resisted almost every effort at European Union level or in the Group of Seven major economies to push for stronger financial regulation.

Can this be the leader whose government is still fighting to kill a requirement proposed by the European Commission for banks to hold a 5 percent slice of risky securitised loans they sell?He did not mention Britain by name, but EU officials said it was an open secret that Brown had consistently blocked any European legislation he thought might inhibit the attractiveness of the City of London as a financial centre.