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According to the headline of an article in today’s Guardian: Brown wins G20 battle against caps on bank bonuses.
I hope that he is very grateful to them for writing it because taken at face value it sounds like he has dug his heels in on a major point of principle and won the day. Nothing could be further from the truth.
The most relevant paragraph of the whole shebang is about half way down and reads as follows: -
Opening the main session of the meeting in London, Gordon Brown, while determined to protect the City of London from unwanted regulation, was eager to show that he would do everything possible to end a culture of lavish and unjustified compensation packages that has angered the public.
If you replace, “determined to protect the City of London from unwanted regulation”, with “refusing to accept the causes of recession”, and change “end a culture of lavish and unjustified compensation packages that has angered the public” to “throw his weight behind a lightweight motion to hide the fact that neither he nor this Labour administration has the balls to tackle the necessary budgetary changes before the next election” you end up with the following which I believe is much more truthful,
Opening the main session of the meeting in London, Gordon Brown, while refusing to accept the causes of recession, was eager to show that he would do everything possible to throw his weight behind a lightweight motion to hide the fact that neither he nor this Labour administration has the balls to tackle the necessary budgetary changes before the next election.
Compare them for yourself. My application for a job at the Guardian is in the post!
