Brown urges global trade package - News in brief - Evening Standard
       

Brown urges global trade package

Gordon Brown has called for a 100 billion-dollar package to help revive international trade, as his pre-G20 tour arrived in Brazil.

But the Prime Minister's appeal was in danger of being upstaged after his host launched an attack on the "white, blue-eyed people" who had caused the economic crisis.

Brazil's President, Luiz Inacio Lula Da Silva, said he had never met a black banker and insisted the poor should not suffer as a result of mistakes by the rich.

"This is a crisis that was caused by people, white with blue eyes. And before the crisis they looked as if they knew everything about economics," Mr Da Silva told a joint press conference in Brasilia. "Once again the great part of the poor in the world that were still not yet (getting) their share of development that was caused by globalisation, they were the first ones to suffer."

He added: "Since I am not acquainted with any black bankers, I can only say that this part of humanity that is the major victim of the world crisis, these people should pay for the crisis? I cannot accept that."

Mr Da Silva - who is white - hit out at other countries for restricting immigration, stressed that Brazil's own banking system had been well regulated, and also demanded a deal on the stalled Doha trade round.

Downing Street views Brazil as a key ally in getting agreement in London next week. Its economy had been growing quickly until exports slumped amid the turmoil.

The PM warned that this year worldwide trade was projected to fall for the first time in 30 years.

"Literally thousands of businesses who want to trade around the world are being prevented from doing so by the absence of trade credit available to them," Mr Brown said. "I'm going to ask the G20 next week to support a global expansion of trade finance of at least 100 billion US dollars to help revive trade in all parts of the world."

Details of the package being sought by Mr Brown are not yet clear, although he indicated that the money would come from private sources as well as governments.

News in brief in Pictures

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity