Main focus of Wednesday, October 15, 2008

Gordon Brown - the unexpected saviour

British Prime Minister and Eurosceptic Gordon Brown was long considered a marginal figure in the European Union. Now the bank crisis has put the former Chancellor of the Exchequer in the limelight. While the British media view his newfound popularity with a critical eye, the European press sees his rescue plan as a vital restructuring of Europe's financial system.

Financial Times Deutschland - Germany

The Financial Times Deutschland believes that politicians are defined by how they handle crises. The former British Chancellor of the Exchequer Gordon Brown has demonstrated unexpected competence, the paper writes: "The British Prime Minister was hitherto considered gloomy, undecided and hopelessly unsuited to his job. Now he is being celebrated as a saviour, and his crisis management has become a model for other states. ... Before the crisis struck financial markets broadside, Brown was widely regarded as a tragicomic figure - a man who wanted to be prime minister at all costs but who was desperately inept at the job. But Brown's rescue plan has met with approval and been adopted not only in the UK but across the globe. ... Crises define politicians. Suddenly Brown is acting with calm, resolute control." (15/10/2008)

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More from the press review on the subject » Economic Policy, » Financial Markets, » United Kingdom, » Europe

The Guardian - United Kingdom

The left-liberal newspaper The Guardian comments on the new popularity of Gordon Brown in the financial crisis, but remains sceptical of his long-term chances: "Mr Brown should be extremely wary of presuming too much too soon about the public mood. Recent national opinion polls may have seen the best Labour figures for some months, but that is not saying much. Labour remains well adrift of the Conservatives - 10 points behind in the latest poll - and well short of its own share of the vote in 2005, while the weekend YouGov survey showed that large majorities are highly critical of Mr Brown's management of the economy. He has certainly won plaudits from insiders for his handling of the financial crisis. ... When an election comes, the fact that Mr Brown may have saved the financial institutions could count for less than the powerful charge - which the opposition parties were already making yesterday - that he is the man who allowed the banks to steer on to the rocks in the first place." (15/10/2008)

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More from the press review on the subject » Fiscal Policy, » United Kingdom

Dagens Nyheter - Sweden

The Stockholm newspaper Dagens Nyheter celebrates Gordon Brown as the hero of the financial crisis. Taking the Swedish crisis plan for bank financing as his model, Brown has shown a knack for analytical thinking and an ability to act, the paper writes, commenting that a lesson can be learned from the crisis on the political organisation of the EU. "Coincidentally France, with its competent style and well-proven political leadership, now holds the EU Council Presidency. If the Treaty of Lisbon were in force we would always have such a Council President. Because he would be elected for just this job, and hold office for at least two and a half years. And Gordon Brown has shown that even someone only mildly interested in Europe can be a contender for the post." (15/10/2008)

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More from the press review on the subject » EU Policy, » EU Constitution, » Financial Markets, » United Kingdom, » Europe

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