Stakes higher than ever, says Brown

Gordon Brown warned fellow world leaders today that the stakes were "higher than ever before" as he called for agreement on reforms of the global financial system.

Ahead of a meeting of EU leaders in Brussels, the Prime Minister said co-ordinated action to improve liquidity was not enough for long-term stability.

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Now governments around the world had to deliver reforms to restore confidence to the financial markets.

Speaking to the Foreign Press Association in London, Mr Brown said: "We need to show that we have dealt with the difficulties' cause in the first place, that we are making the reforms that are necessary so that the global financial system will work."

He added: "I believe the stakes are higher than ever before and the coming days will be crucial for the international community."

The premier dismissed the suggestion of one foreign reporter that he was now "flash Gordon" thanks to his response to the crisis.

"Just Gordon, just Gordon, I can assure you," he replied.

Asked about his more favourable coverage in the media recently, he said: "I think you should look at what they were saying about me four weeks ago."

At another point in the briefing, he added: "Politics, I have found, is about ups and downs, and you have got to treat adversity and periods of popularity with equal equanimity."