Amid the pomp and ceremony of the Lord Mayor’s Banquet in London, Gordon Brown has hailed Barack Obama’s election as a “source of hope and inspiration.”

Britain’s Prime Minister said the current financial crisis has given world leaders a unique opportunity to create a truly global society.

“My central argument this evening is that the alliance between Britain and America – and more broadly between Europe and America – can and must provide leadership in this,” Brown said.

“Not in order to make and impose the rules ourselves but to lead and broaden the global effort to build a stronger, more secure and more equitable international order.”

Recapitalising banks so they can resume lending was one measure Brown outlined, to tackle the economic downturn. Within days he and other leaders will meet in Washington to try to find long- term solutions. Not yet in office, Obama won’t be present.

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