LONDON — Once dismissed as Britain’s ditherer-in-chief, Prime Minister Gordon Brown has taken decisive action to rescue the nation’s banks, charting the way for bailout packages in the U.S. and the European Union.
If the coordinated push to save the global economy works, history may look back on Brown as a savior.
For the moment, Brown may have more modest hopes: reviving his political fortunes on the back of the widespread praise he has received for his bold decision to take ownership stakes in ailing banks in a bailout worth $63 billion.
“Gordon Brown: European Superhero,” declared a column in Le Monde, which ran a poll showing the French had more faith in Brown to rescue the world’s economy than they did in their own president, Nicolas Sarkozy.
Paul Krugman, this year’s Nobel economics prize laureate, praised Brown and his team in his New York Times column, saying they “defined the character of the worldwide rescue effort, with other wealthy nations playing catch-up.”
Brown — often caricatured as dour and cheerless — soaked up the accolades as he took questions from the foreign press Tuesday. One reporter asked whether he should be referred to as “Gordon” or “Flash Gordon” — the quick-footed science fiction hero.
“Just Gordon, just Gordon, I can assure you,” chuckled a blushing Brown.
For the British leader who has gone from political has- been to hero, it has been a remarkable turnaround.
