Brown urges more global reforms - bank stabilization "not enough"
British Prime Minister Gordon Brown Tuesday called for agreements on reform of the global financial system and warned that the coordinated measures taken this week were not enough to ensure long-term stability, reported dpa.
Brown told foreign correspondents in London that the stakes were "higher than ever" and that the moves to shore up bank liquidity alone were not sufficient.
"We need to show that we have dealt with the difficulties' cause in the first place, that we are making the reforms that are necessary so that the global financial system will work."
"I believe the stakes are higher than ever before and the coming days will be crucial for the international community," he said.
The massive stabilization effort undertaken Monday by Europe's main economies, and the latest US moves, are expected to dominate a two-day European Union (EU) summit in Brussels this week.