By Martin Banks - 24th March 2009
An international hurricane is sweeping the world from which no-one and no country is immune
Gordon Brown
UK premier Gordon Brown says the EU is "uniquely placed" to lead a recovery from the current economic meltdown.
Addressing parliament in Strasbourg, the Labour leader called for action to address the "international hurricane sweeping the world" from which "no country and no individual" is immune.
Brown said the world was in the midst of a recession "the speed, the scope and the scale of which is unprecedented in history".
He was speaking at the assembly's plenary ahead of the upcoming G20 summit of world leaders in London.
Brown, who will chair the summit, started his speech by telling MEPs that the EU could be "proud" of its achievements, including creating the "biggest single market in the world" and on environmental laws.
He also reminded deputies that Britain had ratified the stalled Lisbon treaty "by a large majority" and that the UK did not want to be considered "adrift" from mainland Europe but, rather, seen as being "at the centre" of it.
The Scot, whose speech was generally well received by a packed plenary, said Europe and the rest of the world faced "four great challenges" - financial instability, environmental degradation, extremism and growing poverty.
But he strongly refuted suggestions that he supported global action rather than action at EU level.
"This is the most testing of economic times and an international hurricane is sweeping the world from which no one and no country is immune," he said.
"The global economic system has become distorted and I believe that every aspect of the banking system should come under the supervisory net.
"We also have to agree international standards of disclosure, transparency and, yes, renumeration."
Brown, who was given a standing ovation, also cautioned against countries' "retreating" into protectionist measures, saying, "The temptation is to pull up the drawbridge but protectionism is the policy of defeatism and the politics of fear."
Afterwards, parliament's president Hans-Gert Pottering praised Brown for a "remarkable" speech, saying the G20 came at a "critical" moment in time but also offered a "vital" opportunity to lead the fight back against the credit crunch.
Socialist group leader Martin Schulz said it had been a "courageous and tremendous" speech while ALDE leader Graham Watson replied by again calling for an EU financial authority and reform of the global economic institutions.
UEN leader Brian Crowley congratulated Brown on his "willingness" to visit the parliament and also "offer a bridge" between the US and Europe.
Greens co-leader Monica Frassoni said Brown's presence in Strasbourg was a "good sign", particularly as she said he had given "little consideration" to the assembly in the past.
"This shows that people can change," she said.
GUE leader Francis Wurtz also praised the speech with the veteran French deputy describing Brown as the "best political leader" in Europe.
However, UKIP leader Nigel Farage accused Brown of mastering the skills of European politics which he said was "saying one thing in this chamber and another thing at home."
He further derided Brown for breaking a key manifesto pledge to hold a referendum on the European constitution or its successor the Lisbon treaty.
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