Gordon Brown declared that a $1 trillion package to stimulate economic growth agreed at yesterday’s G20 summit in London will ensure that the world pulls out of recession more quickly.
Speaking after the one-day summit of the world’s richest nations in the Docklands, the Prime Minister said there were “no quick fixes”, adding: “Today’s decisions will not immediately solve the crisis. But we have begun the process by which it will be solved.”
He said: “This is the day that the world came together to fight back against the global recession, not with words, but with a plan for global recovery and for reform and with a clear timetable for its delivery.”
The US President Barack Obama played a key role in brokering the agreement, resolving tensions between China and France on tax havens. The $1trn will be made available to countries that run into trouble via the International Monetary Fund (IMF), the World Bank and World Trade Organisation, which will all be beefed up.
Half the money will come from IMF loans, with $250bn to finance trade deals and a further $250bn from the IMF’s currency reserve.
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Please see Funding the IMF for the ‘New World Order’ for more information on how the megalomania’s IMF and the World Bank bring destruction in their ‘loaning’ of money.