Thursday 2 April 2009

Gordon's G20 triumph

Listening to the doom-mongers in the media in recent weeks, one would have been led to believe that the G20 would be anything from a disappointment to a disaster for the Prime Minister. While there may be no financial stimulus, the summit has made some genuinely historic and big decisions. The trillion dollars for the IMF is one. So are the tighter regulation of hedge funds and bank capital deposits and the clampdown on tax havens. Even the markets have been lifted.

Equally, there is no doubt that the images of the Obamas and other world leaders in London - including yesterday's press conference - have clearly rejuvenated the Prime Minister, who has not looked so good for a long time. Those who doubted the wisdom of placing so much store on the G20 have been seriously wrongfooted. This has been a real success for the PM, albeit one that he really needed.

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