Interview: Gordon Brown backs world market reform

Gordon Brown, UK chancellor of the exchequer, speaks to Nick Kochan about the birth of the euro, tax competition in Europe and rethinking the world's financial architecture.

Could you describe your new approach to international financial architecture?

The new international financial architecture addresses three great issues. The first is a crisis-prevention and a crisis-resolution mechanism that is far more effective than it has been in the past. Hence the proposals for a precautionary facility that are working their way through international forums as well as national governments. Hence also our desire that we consider private-sector involvement in crisis prevention and resolution and a stronger role for the international institutions.

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