By Robert
Winnett, Political Editor
The former prime minister said that the “standard but often empty” plans
usually agreed at such summits will “not do when the euro area is finally
approaching its own day of reckoning”. He warned that the crisis threatened to
spread and lead to Italy and
even France
Mr Brown made the rare intervention amid mounting concern that the re-run
of Greek elections tomorrow will lead to the country being forced out of the
euro.
If the Syriza party plays a key part in forming a new Greek government, its
refusal to agree to cut spending is expected to lead to the country being
ejected from the single currency. Fears are mounting that “contagion” could
spread quickly to countries such as Portugal
and Spain
There is growing speculation that central banks, including the Bank of
England and American Federal Reserve, are on standby to inject billions of
pounds into the global economy if necessary on Monday.
Angela Merkel, the German chancellor, François Hollande, the French
president, and other eurozone leaders are understood to have delayed leaving
for the G20 summit in Mexico
In an article for
news agency Reuters, Mr Brown urged leaders to follow the
example set at the 2009 London G20 summit, after the last credit crisis, when
an international bail-out was agreed.
He said: “At G8 and G20 summits, world leaders have tended to be mere
spectators as Europe has gone from one failed
intervention to another. Now […] they must not leave Mexico
Mr Brown’s call is unlikely to come to fruition. Sources have played down
speculation of a major international plan, with the summit expected instead to
put pressure on Germany
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