If Outgoing Prime Minister Blair Leaves Brown in his Seat, the Smell of Globalization Could Worsen

12 de may de 2007

<body><div id="article"><tr><td height="28" valign="middle" width="184"></td><td valign="middle" width="185"></td></tr>If Outgoing PM Blair Leaves Brown in his Seat, the Smell of Globalization Could Worsen.<p>May 12 (EIRNS)--British Chancellor Gordon Brown, who is expected to become Prime Minister after Tony Blair steps down June 27, has been gearing up the British financial oligarchy's hectic push for globalization/deregulation, which is already making western and central Europe and North America ungovernable.</p><p>In 2006, Brown set up the "High Level Group," with representatives of the financial sector and the government, "to promote London as the leading international financial center." It held its first meeting on October 18, 2006, at 11 Downing Street.</p><p>After the meeting, Ed Balls, City Minister, asked Lord (David) Currie of Marylebone to chair a working group to "draw up plans for an international center for financial regulation." The center was to offer "training on international regulation with a view to influencing global regulatory developments," i.e., to lobby for further wild financial deregulation worldwide.</p><p>The government, the financial "industry," and the City of London were each to provide funds. Barclays, Citigroup, Dresdner Kleinwort, Goldman Sachs, HSBC, JP Morgan, Man Group, Merrill Lynch, Morgan Stanley, Prudential, Standard Chartered, UBS, Aviva, Aberdeen and 3i, each agreed to provide startup funding of 100,000 pounds (about $200,000) per year for three years, and the government promised about 2.5 million pounds (about $5 million) over the same period, according to www.hm-treasury.gov.uk on May 9.</p><p>After Lord Currie presented his plan on May 9, Brown asked Mervyn Davies, Chairman of Standard Chartered, to prepare the startup of the new center.</p><p>In Germany, where <em>Frankfurter Allgemeine Zeitung</em> alluded to these London-centered developments today, the government is still committed to pressing for hedge-fund regulation against primarily British opposition. Support for the German position is building in Denmark, Switzerland, Austria, the Netherlands, and elsewhere in continental Europe.</p></div></body>