LondonNet News Headlines
|US Shoots Down Brown's 'Marshall Plan'
- American finance chiefs ignore British pleas and world slump
UK CHANCELLOR Gordon Brown has failed in his attempt to win US help in fighting developing world poverty.
Brown was in Washington this week to lobby American counterpart Paul O'Neill on his scheme, dubbed a 'new Marshall Plan', to double the international aid budget to UKP34 billion a year.
But O'Neill was in no mood to promise any additional funds, despite the fears of many that the global economic downturn could spell further crisis for the world's worst off nations.
"The real way we are going to reduce poverty is by economies growing more rapidly," US Assistant Treasury Secretary John Taylor said, a strange take on events given the slump and its effects all round the world, not least in Argentina today.