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RSSGordon Brown rallies support for his IMF bid
Cameron is powerless to veto his old rival’s appointment.
By George Eaton Published 17 May 2011 14:28
Gordon Brown had started to campaign to become the next head of the IMF even before Dominique Strauss-Kahn's career imploded on Sunday. His article in the current edition of Newsweek (written before DSK's downfall), is a transparent job application:
The IMF showed a few months ago that if the world worked together, up to 50 million new jobs could be created – millions of them in Europe and America – and 100 million people could be taken out of poverty. This November, at the next G20 summit, under the leadership of Presidents Sarkozy and Obama, we have the chance to take control of the huge and historic changes confronting us. It is not our fate to be at the mercy of financial chaos, decline and recession: there is an alternative. Securing it will not be easy, but, as I have said before, it is in the space between the possible and the perfect that campaigners for justice must always be.
Today's Financial Times reports that Brown has told friends that he still has a chance of winning the top job and that "he's not taking no for an answer". So, is Brown worth a flutter?
As a European, he is eligible for the post (by tradition, the head of the World Bank is an American, while the head of the IMF is a European), and although David Cameron is free to state his opposition to Brown's appointment, he is powerless to veto it. In addition, the former PM can point to the fact that he sat on the IMF policy committe for ten years and that his rescue of the UK economy was imitated across the world.
But, as things stands, he's unlikely to get the nod. Should the IMF appoint another European, it is most likely to opt for Christine Lagarde, the politically astute French finance minister, who would be the first woman to hold the post.
Alternatively, as France has held the top job for 26 of the past 33 years, the job could go to Germany's Axel Weber, who resigned as president of the Bundesbank in February and has the backing of Angela Merkel. Then there is possibility that the IMF will break with history and appoint a non-European. On either count, Brown is not the man to beat.
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62 comments
until the banks are internationalised I don't give a sh
Bobsyourmonkhouse
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Since when are the French a different race to the English? ......
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If you cant spot that, then you cant spot the better economics. QED
"Boom and bust" - There was certainly a boom. I was under the impression that the bust was caused by American banks selling us and the rest of the world fraudulent financial instruments. Certainly the apologies I received on the streets of America in October 2008 from ordinary folk bore that out.
You must be kidding! Gordon Brown is a terrible leader (has there been a prime minister in living memory so uncomfortable is his own skin), and the financial busts with the British banks (on his watch) recklessly lending multiples of the UK's GDP. He is the worst kind of candidate we could have.
Brown won't win for several reasons:
His failure to do anything about predatory lending from the States when evidence was shown to him and other G8 and 20 leaders.
Horrible timing in selling gold.
Not standing up to Blair during the Iraq Inquiry.
Despite all of this, he seriously thinks he has a chance?
I would prefer Brown to any eurotrash IMF candidate.
When Brown left No.10 he didn't tour the world earning a million pounds a lecture, Blair anyone? He is now on the World Economic Forum in an unpaid position. Brown has more compassion than anyone currently in government, he is a good man, end of. Brown for IMF chief!
Is this a joke? This is a man who left a a big hole in country's finances with his loose profligate policies. Is the world to trust him? The current IMF head may have a weakeness for women but was still able to get the job done. Mr. Brown also lacks inter personal skills. Please do the world a favour and stop him in his tracks.
Some folk's really do have short memories.
Newarthill
I am not kidding.
And you have an agenda.
Giving this job to Brown would be like giving an arsonist a post as fire safety advisor.
Benjamin - I trust yuo're not assuming disliking Brown = Tory. New Labour, Trendy Tory ... they're all one now, doing ring a roses round the centre ground, occasionally debating ideology but never letting it seriously interfere with what's necessary to keep them in office. It used to be left and right; now it's the political classes and the rest of us ...
Who cares what nation leads the IMF? The point is the potentially outgoing head has done more to limit the most aggressive tendencies of the organisation than any other leader it has had. That process will stop if he is replaced with yet another neoliberal fundamentalist. Brown's capacity to disappoint has not yet run its course..
Cameron has the power to stop Brown. This can be proven wrong only when Brown gets the job. No Georce, Dick or Chenny can change that fact by writing a spinning article. LOL.
Lets see Brown as head of the IMF asap, knock heads together and kick ass. He is the best man for the job, and would carry on the policy of DSK in supporting failing countries. WE don't want another economic collapse.
And you won't get any stories of mistresses and teenage girlfriends as we so often get with these French and Italians; it seems accepted practice on the Continent and their Press don't say a word.
Perhaps these Continentals will change their ways now they see what happens if they get caught in America.
Brown would bring a prudent puritan perspective to the job.
"I set out my pledge to make stability the central pillar of my economic and business policy."
Brown, 2007
Yes, always a good idea to make a well-paid international sinecure the reward for failure at home:
"I will not allow house prices to get out of control and put at risk the sustainability of the recovery."
Gordon Brown's 1997 Budget Statement
"Under this Government, Britain will not return to the boom and bust of the past."
Pre-Budget Report, 9th November 1999
"Britain does not want a return to boom and bust."
Budget Statement, 21 March 2000
"So our approach is to reject the old vicious circle of the...the old boom and bust."
Pre-Budget Report, 8 November 2000
"Mr Deputy Speaker we will not return to boom and bust."
Budget Statement, 7 March 2001
"As I have said before Mr Deputy Speaker: No return to boom and bust."
Budget Statement, 22 March 2006
"And we will never return to the old boom and bust."
Budget Statement, 21 March 2007
Herbert
I was going to have a pop at the other posters but you've done a fantastic job!
Nice one Herbert...
@ ang (for angry ?)
A plague on all the mainstream political parties... please !
All that for the same point. What a waste of time Herbert
benjamin
19 May 2011 at 18:37. Please explain. Why is it, that anyone that doesn't hold dogmatic views are tories. Please, also list Gordon Brown achievements?
I don't have much to say on the thread except Macavity is not an old Scottish poem it was written by Thomas Elliot, an American, in the 20 century!
It's called 'reinforcement' mcquade.
No growth in the last six months, an extra £44 Billion in borrowing over the next four years, as a direct result of the first Osborne budget, I just so love Conservatives lecturing everyone about economics.
And don't forget the Vat and NI increases.
Herbert. LOL. Cant stop laughing at the discomfort of the ALWAYS intelligent KNOW-ALL left!
matthew fox: Do you really believe that talking about the disaster that the Tory-LibDem government is somehow detracts from the imbecility of Brown imagining he'd banished 'boom and bust'? Luckily, most readers here are grown up enough not to fall for that.
Matt
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I would prefer Brown to any eurotrash IMF candidate.
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Sorry. Matt who?
All that for the same point. What a waste of time Herbert
All that for the same point. What a waste of time Herbert
Herbert: Your criticims of Brown are entirely to the point and wholly accurate, but the sad truth is he's still a far better choice for the job than any of the others currently going, a far better chancellor than Osborne, and a significantly better PM than either Blair or Cameron. What a world!
@ Herbert
Osborne has killed the recovery, that is real imbecility, don't forget, in 2015, the government will have borrow £23 billion pounds.
My understanding is Brown cut VAT, and when he came to power in 1997, cut VAT from 17.5% to 5% for household fuel.
Do you hanker for 20% VAT on electricity and gas bills?
This is ridiculous - we're not talking about Osborne or any of the Tories being recommended for this job. We're talking about Brown. Brown is talking about Brown. There is no justification for such a signal failure as both Chancellor ('no more boom and bust') or Prime Minister being considered for the post. This 'don't look here, look over there' game doesn't alter that.
I am talking about cold hard facts, when Labour came to power, interest rates where 6.25%, unemployment stood at 2.5 million and inflation was 3.1%
I take it Herbert your aware, the National Debt in 1997 stood at £400 Billion.
Brown didn't have North Sea Oil to bankroll him, between 1979 and 1997, revenues exceeded £300 Billion. Between 1980 and 1985, 15% of all Government revenues came from North Sea Oil.
Herbert: In the last 20 years, what major figure of the developed world wielded more power against Boom and Bust than Brown? Don't get me wrong--he was a disaster. But name me someone who took a clearly stronger and more effective stand against the financial powers and deregulation that created Boom and Bust. It certainly wouldn't be Christine Lagarde, who only wants more of it.
Yes well done Herbert good show, bravo...I am a different person by the way. I think Herbert is great, lets all hear it for herbert. Yes, lets, infact lets make him ruler of the universe. Yes lets. Even his mum thinks he is cool!!!
It seems as if I've misunderstood everything - Brown was a genius, regulation of the banking system ensured Britain was not affected by the crash, Labour went on to win the 2010 general election because the electorate were so impressed by Brown's competence and human touch... blimey!
swatantra nandanwar writes, 'He is better known and better appreciated abroad than perhaps here, and will be listened to.'
In much the same way as Blair is 'better appreciated' in the United States than here. Living with both of them for almost two decades gives us a clearer picture.
Herbert: You're not listening. I agree that Brown was awful. Tell me who, among the possible candidates, is better. Tell me who, over the last 20 years, imposed a meaningful brake on finance and banking.
As Chancellor, Brown presided over the longest period of uninterrupted economic growth in our history. My understanding is that he promised us "no more Tory boom and bust" - the sort deliberately created by Barber in 1972-3 and Lawson in 1988.
Brown was widely respected abroad for his international leadership during the global credit crunch. The fact that the British public, with the help of a great deal of brainwashing by the Murdoch media, failed to appreciate that fact, is neither here nor there. Brown would be the perfect choice for the IMF job.
http://cuttingedgeuk.proboards.com/index.cgi
I like it when Conservatives ignore their 18 years in power.
They won't take a responsibility for blowing £300 Billion pounds of free money.
Ivan White,
Thank you, I agree.
I would also add that ten years on the IMF policy committee puts him in a better place than the other front runners, especially the French Finance Minister who has three and a half years experience in her post and as a result of that on the IMF policy committee and who, I seem to recall, told us all in 08 that the economic crisis was over! Dont get me wrong, I'd love to see a woman in the job and I think she has a lot of positve attributes but I think GB is better qualified for the job than anyone else.
Why not appoint a 'qualified' economist to the top job, preferably one with-out a axe to grind.
@ RK?
Whats it to you?
Left's delusion into believing that its hero's are perfect can be reflected by their attitude to Jesus aka Marx is amazing.
This after, their man converted Private Debt to Public Debt (Globally, if you like because he is Globally 'respected').
So you are left if
a)You had no opportunity in life to progress and have no money.
b) No Degrees. (offcourse they do not equate that with education; hence Brown is an 'economist')
c) And you insist all others with all best degrees are idiots (Oxford-Cameron).
d) That left is full of -KNOW-ALL superintelligent social engineers.
e) Soviet Union, North Korea, East Germany never happened. Or by some twisted logic were/are the successful models.
Stick at it Herbert, you will get the usual crew trying to distort the truth and alter history. God help us if this very flawed man becomes head of the IMF. He created the perfect fire storm and now others have to try and put it out.
I wonder if in 2003 Gordon attended the same presentation as Vicky Pryce (a top UK top qualified economist):
"The New Economy is a fraud perpetrated by a slick public-relations machine"
Back then it was fully understood by the Labour elite what they were doing.
@Ivan White
Before 2008 the last government borrowed £350Bn and used it to inflate the economy. But what did our kids got for the money?
I would not go so far as to say Brown caused the crisis but here is what he did
a) Massive explosion of public spending assuming 'HE' has ended BOOM & BUST. There are very many stong advocate of debt cutting, who saw the Blowing up of banks.
b) True he was the Architect of the 'Global Recovery' as his supporters claim. That actually is in fact a 'Global Disaster' where private debt has been converted to public debt where the bankers are very happy to take all the upside (notice last years bonuses?)....in full knowledge of their ability to blackmail the governments to bail them out in downside.
As I have said many time earlier, Bankers and Leftists...both... love to spend other people's money.
Ivan White puts it brilliantly!
Can't wait to see the dropping jaws of Cameron and Osborne.
Not satisfied with having left Britain in the 'broon stuff' he now wishes to drop the whole World in it !
Lets hope the voice of reason leads to the appt of Brown,as intimated Brown led the rescue after the collapse which the World followed. We can't have another Frenchman at the helm after what happened to the present incumbent it'll take a while for continental morals to change for the better. I'm really surprised that French/Italian/German/Spanish/Dutch women haven't revolted at the appalling behaviour of their men.
Brown will be a safe pair of hands to guide development funding at this critical stage.
He is better known and better appreciated abroad than perhaps here, and will be listened to.
Judging by the nondescript poor appts of Rumpoy and Kathy Ashton at the EU commission it just shows you need someone with clout in these top international jobs. You need leaders not civil servants at the top.
And the bonus is that its one in the eye for Cameron if Gordon gets the job.
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