'Credit Crunch Same As Terrorism'

Sky News
Monday, Sept 22, 2008

The Chancellor will liken the challenges posed by the global economic turbulence to the fight against terrorism when he addresses the Labour Party conference later today.

Alistair Darling will promise to take all necessary steps to deal with the current financial turmoil during his keynote speech in Manchester.

But he will concede that national governments cannot combat the problems of globalisation on their own.

He will say: "Just as one government alone cannot combat global terrorism, just as one government alone cannot deal with climate change, one government alone cannot deal with the impact of globalisation."

Speaking to Sky News, Mr Darling said the Bank of England had pumped over £100bn into the UK financial system to help maintain stability.

He said further help would be provided if necessary, adding the Government was ready to respond to any developments.

"It's important to support the economy and not do things to make it worse," he told Sky presenter Eamonn Holmes.

Full article here


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