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Gordon Brown has claimed victory in his battle to persuade European leaders that a British-style bank bail-out can stem global financial turmoil. The Prime Minister emerged from a crunch summit in Paris convinced that the EU will follow his blueprint for easing the crisis. "I am confident after talking to my European colleagues that more liquidity, funding for the medium term loans necessary for businesses and mortgages and the recapitalisation of banks are part of their thinking as well," he told journalists. He continued: "The difficulty that we have got at the moment is in restoring confidence in the banking system. What is missing is confidence itself. I believe that the action we have taken in Britain will restore that, and we will see over the next few days worldwide action that will also see confidence restored." Mr... [read full story]
