Brown: World needs 'global New Deal

The world needs a "global New Deal" to haul it out of the economic crisis it faces, Prime Minister Gordon Brown of the United Kingdom said Sunday. "We need a global New Deal -- a grand bargain between the countries and continents of this world -- so that the world economy can not only recover but... so the banking system can be based on... best principles," he said, referring to the 1930s American plan to fight the Great Depression.
Brown was speaking as the leaders of Europe's biggest economies met to try to forge a common position on the global financial crisis ahead of a major summit in London in April.
French President Nicolas Sarkozy said the world's response to the global financial meltdown had to be profound and long-lasting, not just tinkering around the edges.
German Chancellor Angela Merkel, the host of the meeting, urged nations of the world to work together to fight the problem

So what is the significance of all this? Well this is going to prove whether or not the world can actually come together and put something together. We have discussed how states discuss, either by self-interest or with the end in mind. The world will only come together because of self-interest, everyone is going through economic difficulty. However, we have to ask ourselves did the New Deal actually work? Some argue that the New Deal sent as further in debt and hardship. WWII is what truely brought us out of the Depression. Prime Minister Brown wants to have a set of rules and norms for banks, so everyone can agree on it. The New Deal solution poses a lot of problems. Where does all the money come from? How can every state come to agreeance? New Deal policies may not even work on a global scale. Is it worth trying? I don't think so. I feel that every state should worry about itself in its own borders.