Gordon Brown today said that he had warned of the current global financial crisis tenyears ago - and that the current crisis is the birth pangs of a 'new global order'.The Prime Minister claimed that he had called for a stronger regulatory framework in the wake of the Asian money markets collapse in 1999.
'As I said in Harvard ten years ago, we need an early warning system so that international financial flows are properly monitored,' Mr Brown said in a speech yesterday. 'We must create a framework for the international governance that we currently lack. We must consider at a global level the regulatory deficit. For a decade I have said that the current patchwork arrangement is inadequate.’ (Daily Mail)