Moreover, I do not think that we shall resolve the Global Crisis by simply saying that people must move out of their own countries and live away from their families.

Yes, that is the philosophy, and it is no answer to the Global Crisis.

In the event of a Global Crisis causing the Panama canal to be closed, they will be of high strategic importance to the West.

The Minister criticised me for giving a Cook's tour of the Global Crisis, but he is giving a Cook's tour of the ODA report.

Therefore, it is critical that in facing the challenge of the Global Crisis, the challenge of trade and the challenge of a renewal of the Lomé agreement, there should have been more than an adequate response from the EEC to the needs and demands of the ACP countries.

After more than eight years of Tory rule, this country is uncompetitive, unproductive and unready to cope with a worsening Global Crisis.

Will the Prime Minister ensure that, at the Earth summit and thereafter, tackling the Global Crisis will be his priority and that of his colleagues on the world stage?

Following the Prime Minister's visit to New York last month and the subsequent meeting of the International Monetary Fund and the World bank, is it not right to continue to focus on the problems of developing countries during the Current Global Crisis?

One of the key lessons from the 1930s is that a protectionist response to a Global Crisis makes matters much worse.

As many noble Lords know, HIV/AIDs constitute a Global Crisis.

My right hon. Friend has confirmed in her speech and in the Bill that poverty is a Global Crisis, and one that is begging to be addressed in sub-Saharan Africa.

It states:Today 125 million children are not enrolled in school; two thirds of these children are girls … We are witnessing a Global Crisis - children throughout the world are being denied their fundamental right to education … In developing countries, one in four adults - some 900 million people - are illiterate, 64 per cent.

I take up immediately the challenge issued by my hon. Friend the Member for Bognor Regis and Littlehampton (Mr. Gibb) to praise the Government when they get things right—by saying that in the matters relating to the Global Crisis the Prime Minister's conduct of his office has been simply superb.

I take up immediately the challenge issued by my hon. Friendthe Member for Bognor Regis and Littlehampton (Mr. Gibb) to praise the Government when they get things right - by saying that in the matters relating to the Global Crisis the Prime Minister's conduct of his office has been simply superb.

We should not underestimate the value of the special relationship between the United States and the United Kingdom, particularly during the Current Global Crisis.

World AIDs day contemporarily switched the media spotlight on to a Global Crisis that is killing millions and has orphaned 14 million children, but attention will soon revert to Iraq, where the scale of expenditure dwarfs the not insubstantial sums allocated to the battle against AIDS.

The urgent response to the Global Crisis starts and finishes with international agreements.

In short, we think of a Global Crisis, which in one way or another has affected virtually every country in the world.

Is he aware that the NATO Secretary-General warned yesterday that the EU and NATO would be unable to work together in a Global Crisis and that the distance between themis "astounding", or does the Secretary-General - a Dutchman, incidentally - just believe in an antiquated and absurd view of Europe?

The nearest that he got to a Global Crisis was when the dotcom bubble burst in America, causing great problems in 2000-01.

We face the Global Crisis with higher employment than ever before, and we face the global turbulence with low interest rates and low inflation.

We face the Global Crisis because of a failure of the private sector in the international system.

Does he see change in international institutions as being urgent if a Global Crisis such as this is to be properly addressed?

We now face an even greater, even more serious and even more Global Crisis than world war two.

When history is written, the terms of today's motion and the amendment will surely inspire incredulity at their triviality in the face of the Global Crisis that is now unfolding.

Yes, there is a lot more to be done, and yes, of course, there is huge concern about how the Current Global Crisis will affect employment.

Yes, there is a lot more to be done, and yes, of course, there is huge concern about how the current Global Crisis will affect employment.

"My proposals today, as well as supporting stability in the financial system, will protect depositors, safeguard the interests of the taxpayer and play an important part in the international response to This Global Crisis.

The Prime Minister and the Chancellor have emphasised the necessity for, in global circumstances of a Global Crisis, such co-ordinated action.

This is a national response to what the Prime Minister has rightly called a Global Crisis, so we need global responses, too.

My proposals today, as well as supporting stability in the financial system, will protect depositors, safeguard the interests of taxpayers and play an important part in the international response to This Global Crisis.

As well as supporting stability in the financial system, they will protect depositors, safeguard their interests and play an important part in the international response to This Global Crisis.

Now, they are taking the credit for taking the lead in solving the Global Crisis - that is, in how to deal with the insolvent banks.

Thirdly, given the Global Crisis that we face, with Chinese sovereign reserves amounting to something like $1.

That is certainly the case, and it is the reason why we are now in the middle of This Global Crisis, so it is completely disingenuous of the Opposition to keep talking down the situation and trying to blame these foreign circumstances on my right hon. Friend the Prime Minister.

That is certainly the case, and it is the reason that we are now in the middle of This Global Crisis, so it is completely disingenuous of the Opposition to keep talking down the situation and trying to blame these foreign circumstances on my right hon. Friend the Prime Minister.

The result of this hubris is that the UK now has to face This Global Crisis with the largest fiscal deficit in the developed world, with the exception of Hungary, Egypt and Pakistan.

The result of this hubris is that the UK now has to face this Global Crisis with the largest fiscal deficit in the developed world, with the exception of Hungary, Egypt and Pakistan.

The effects of the Global Crisis are being felt here.

Given the Global Crisis, I welcome the commitment given by Opposition Front Benchers as well as by my right hon. Friend the Secretary of State to foreign aid at 0.

My Lords, it is intriguing to students of political etymology to hear the interpretation of the noble Lord, Lord Strathclyde, of "bipartisanship", which the leader of the Conservative Party said would characterise his party's approach to the Current Global Crisis.

However, it is only now with the Global Crisis that other world leaders see that these reforms are absolutely necessary.

My Lords, the Government have placed great emphasis, in their programme of addressing the consequences of the Global Crisis that has affected our financial institutions, on promoting responsible lending, by engaging with banks to ensure that they behave responsibly with customers and borrowers who are experiencing difficulties.

"This Government are taking action - action on the economy and action to help people to face the effects of the Global Crisis.

It is a Global Crisis.

This Government are taking action, including action on the economy and action to help people face the effects of the Global Crisis.

As we have already heard from several speakers, the Global Crisis is bound to have a profound impact on developing countries, particularly, as my noble friend Lord Anderson of Swansea said, in sub-Saharan Africa.

This is a Global Crisis that demands a global response.

They have been told that this is a Global Crisis started by the Americans, so presumably they will have to get us out of it again.

However, a number of factors are converging to create a Global Crisis for food security which is every bit as serious as the global credit crisis, and is made even more serious by the global financial situation.

On agriculture, my noble friend Lady Shephard talked of the Global Crisis for food security.

The Government did that at the same time that they were saying that the Global Crisis - or the downturn, as it was described in the Queen's Speech - had nothing to do with them.

The UK Government have argued time after time that in This Global Crisis, we cannot insulate ourselves from the financial turmoil.

Whatever happens with the Global Crisis, it will end at some point.

This is a Global Crisis that will require a global solution, and we will continue to work closely with others for a co-ordinated approach.

5 per cent of EU GDP and recognises that a temporary deepening of deficits is justified, given the scale of the Global Crisis.

I appreciate the noble Lord's support and that of the noble Lord, Lord Oakeshott of Seagrove Bay, for the fiscal stimulus, and I agree with their blending of the need and appropriateness of fiscal stimulus in This Global Crisis, aligned with a need to be fair and to ensure that those who are most vulnerable in society are protected.

We are in a Global Crisis that will require a global solution.

I get most dispirited about the House when it cloaks itself in delusions, and the most consistent delusion that has paraded itself around in this debate is that, when we come out of the Present Global Crisis, we will somehow go back to business as usual, and that we will be able to carry on with this everlasting expansion of over-production, over-consumption and over-pollution.

I get most dispirited about the House when it cloaks itself in delusions, and the most consistent delusion that has paraded itself around in this debate is that, when we come out of the Present Global Crisis, we will somehow go back to business as usual, and that we will be able to carry on with this everlasting expansion, over-production, over-consumption and over-pollution.

As I said, this is a Global Crisis that will require a global solution, and the UK will continue to work closely with partners to maintain a co-ordinated approach to secure solutions.

The Global Crisis .

That is one reason why we are committed to reducing borrowing as a percentage of GDP once we are past This Global Crisis.

Have we grasped the need for a far wider context than just the EU in which to grapple with the financial reforms the world needs and the resolution of the complete imbalance between high-savings Asia and the debt-saturated western world, which was the cause of a lot of the overspending and wild borrowing which has led to the Present Global Crisis?

mortgages, the debt bubble just grew and grew and nothing was done to reduce it until the Global Crisis.

There are limitations to what regulation can achieve, as we have seen in other jurisdictions, which do not operate under our FSMA but under their own particular regulatory processes, which have also been found to have shortcomings in the Recent Global Crisis.

This Global Crisis has shown up the inadequacy of our standards of corporate governance in many other business sectors beyond banking and the public are rightly disillusioned.

The World Bank currently estimates that 129 developing countries, many in sub-Saharan Africa, are facing financing shortfalls, and up to 90 million more people could fall into poverty as a result of This Global Crisis.

My Lords, I have seen no real evidence that the people identified by the noble Lord, Lord Forsyth of Drumlean, said that monetary policy was the root cause of the Global Crisis.

We are committed to working with other countries in the G20 to address these issues and to ensure that we minimise the damage being done by This Global Crisis.

The World Bank currently estimates that 129 developing countries, many of them in sub-Saharan Africa, are facing financial shortfalls, and up to 90 million more people could fall into poverty as a result of This Global Crisis.

Instead, we reaffirmed our commitment to open trade and investment, which are essential if we are to end rather than worsen the Global Crisis.

One is that this is a Global Crisis, as if in some way that excuses the Government of all responsibility.

We believe that at a time of Global Crisis it is essential that countries work together in partnership.

As the Foreign Secretary has emphasised, that is particularly true as the world's poorest countries are the most vulnerable to what is being called the third wave of the Global Crisis and as they have the fewest resources available to deal with the consequences of the downturn.

The Prime Minister must shoulder his share of the blame for the Global Crisis and take responsibility for the failure to prepare Britain for the recession that it is now enduring and for his recklessness with the public finances.

The Global Crisis is mirrored in our waters.

This is a Global Crisis, and today there has been a global response.

Will the Chancellor convey my congratulations to the Prime Minister on bringing forward this world response to the Global Crisis?

We have a Global Crisis - it is being experienced across the whole world.

They have been made by the Global Crisis created primarily by the sub-prime lending market in America, which has gradually snowballed and spread throughout the world.

Gordon Brown has certainly had to deal with a Global Crisis, but the Prime Minister played a key role in the origins of the banking crisis.

As we consider the prospects for the future, the Government should be applauded for their swift action to secure the financial sector at a moment of Global Crisis.

We are all too well aware of the additional measures which are necessary, in which the Prime Minister has taken such a significant international lead, to deal with the Global Crisis, but we see no reason to depart from the position that has stood us in good stead with regard to control of prices in terms of the Bank of England's position.

As the International Monetary Fund noted in its annual statement on the UK economy, our response has been bold and wide ranging, and it has helped to contain the impact of the Global Crisis on the country.

I intend to work closely with the Welsh Assembly Government and ministerial colleagues to ensure that the manufacturing sector, which is so vital to Wales, receives all the help that is needed to come through the Global Crisis as strongly as possible.

I know that she will agree that the employment prospects and economic prospects in her constituency can only have been enhanced by the Prime Minister's outstanding leadership of the world at the G20 summit, at which he led the world in a rescue from the Global Crisis.

We dissolve Parliament, then spend the next three weeks fighting each other rather than the Global Crisis, and the nationalists do not have a clue what to do about it.

As I told the House in March, these impacts of the Global Crisis seriously affect the Government's ability to achieve all their international development objectives.

I do not have a problem with having a tough set of laws and regulations to deal with the Global Crisis, because sometimes one has to regulate and legislate to change behaviour.

Where I probably do disagree with the right hon. Gentleman is that, although I believe that the relationship between national regulators and Governments is very important, we are talking about a Global Crisis.

While the more cautious entrepreneurs wait to see whether the second shoe of the Global Crisis is still to fall, does the Treasury understand that early publication of a sound comprehensive financial review would do much to reassure them and bring investment back into the market?

My Lords, my noble friend, in his usual trenchant terms, has identified the strange feature of arguments opposite that somehow in This Global Crisis, with Britain so exposed because of the significance of our financial sector, we could have pursued a policy of go-it-alone.

One great president, Franklin Delano Roosevelt, courageously overcame that instinct at a time of Global Crisis.

Since the Global Crisis began, more than 95,000 businesses have benefited from a free Business Link health check; some 6,850 businesses have been offered loans totalling £692 million through our enterprise finance guarantee scheme; and more than 150,000 businesses have been able to defer their tax payments by courtesy of Her Majesty's Revenue and Customs in order to help their cash flow during this last year of economic and financial crisis.

Of course, as a trading nation, we would be affected by a Global Crisis that has reduced trade.

Fortunately, at a time of Global Crisis, the Government have had the good sense and prudence not mechanistically to apply the constraints-the noble Baroness's so-called prudent norms-of the stability and growth pact, which, if applied, would have deepened and lengthened the recession.

Looking back on these matters since 2008 and considering the current difficult circumstances, everyone objectively has to admit-it needs to be said-that, from the United Kingdom's point of view, the Government have handled This Global Crisis reasonably well.

This Global Crisis has led us, in the same way as other countries around the world, to fundamentally review our financial system and its interaction with the broader economy.

These are all very important responses to the needs of our country and society, and the lessons that have emerged as a result of our experience of This Global Crisis.

Since the start of the Global Crisis, I have always been clear that support for the economy now must go hand in hand with a clear plan to reduce borrowing.

Among all the tax rises since the beginning of This Global Crisis, 60 per cent.

One final area is financial services-a sector that has been the centre of attention for the prominent role that it played in the Global Crisis.

When the Prime Minister was the Chancellor, he contributed to the Global Crisis.

The agreed consensus was that some of the contributory factors to the Global Crisis and the background to the storm-which under the stewardship of this Government, we have largely weathered and got through-were the absence of adequate international financial regulation.

What we found in Aberdeen, before the effects of the Global Crisis kicked in, and before any of the proposals made by the Government in the Queen's Speech or in the days leading up to it, was one of the richest cities in the United Kingdom on the verge of bankruptcy.

It was because the private sector was weak as the Global Crisis hit that the public sector stepped in to support our economy.

I am not at all surprised that the Conservatives have supported what is a Tory Budget; it is the kind of Budget that they have always wanted to introduce, with or without a Global Crisis.

We were running a deficit long before the Global Crisis hit.

1: when the Global Crisis hit, the UK had the second-lowest debt of any G7 country.

However, we then had a Global Crisis.

We did not hear a peep out of David Cameron or George Osborne about Labour profligacy before the Global Crisis.

For the record, between 2007 and 2009, and before the Global Crisis, the UK had the second lowest level of debt among the G7 countries at 36.

It was a Global Crisis that created the problems that we faced, and we had to respond to it.

That was not a Global Crisis: those events were not happening in India, Australia, Canada or China, but they were Atlantic events-America did something similar.

We were hit hard because the Global Crisis started in the financial sector, and the financial sector is a big player in our economy.

What better time to do so, when all Governments are looking at ways of cutting expenditure in the Current Global Crisis?

Today I can outline seven principles of how we, the British Government, will respond to This Global Crisis.

Given that many great economies have suffered serious difficulties in the past few years, we should recognise that this Irish crisis is reflective of a Global Crisis.

Is it not clear that simply increasing VAT, making large-scale public sector redundancies and cutting welfare does not add up to a successful path out of the Global Crisis?

That is why the Labour Government, at a time of Global Crisis, invested in the economy to get it moving, with enormous benefits for our manufacturing base.

That is the backdrop to an economy which was then confronted by a Global Crisis.

That is our point-an unsustainable deficit was run up in the good times, before the Global Crisis began.

We were part of a Global Crisis that affected countries around Europe and the world, but it is interesting that before the international crisis hit, we had the second lowest debt of any G7 country.

Blaming the Global Crisis for what was essentially decisions taken by the Labour party in government is entirely wrong.

That differential had nothing to do with the Global Crisis; it had everything to do with spending commitments made on the Treasury Bench when the hon. Lady's party were in government.

That is how the situation became a Global Crisis.

5% in 2007-08, before the Global Crisis, which was significantly lower than the 42.

We also had - Conservative Members have not mentioned this while attacking the economic progress of our Government - a record period of growth over more than 11 years before we were hit by the Global Crisis.

It was set up quickly - certainly - to minimise the scarring of long-term worklessness on young people in the wake of the Global Crisis.

It is also right that G7 finance Ministers are finally discussing a co-ordinated response to a Global Crisis.

That it is cautious seems good to me, and a good thing particularly in the midst of a Global Crisis, when it would surely have been foolhardy to attempt any major leap into the unknown.

The Commission also asked us to use as our starting point for a freeze - this is perhaps wherethe hon. Member for Swansea West (Geraint Davies) has been confused by the Commission's numbers - the level of spend planned in 2005, but we cannot ignore the fact that the Global Crisis has taken place since then.

Is there not a case for more urgent consideration with the IMF to ensure that it and the UK play their part in This Global Crisis to ensure a better and more stable economic future for the citizens of this country?

The Global Crisis has added to youth unemployment here.

Linked to that, the Commission is proposing a Global Crisis fund, about which we have some reservations.

It was a Global Crisis; not a crisis of public debt in Britain, but in origin a crisis of the total debt of a banking system and private debt bubble which has reached more than 500 per cent of British GDP.

It was a Global Crisis.

The hon. Member for City of Durham (Roberta Blackman-Woods) suggests that the coalition is unaware of the Global Crisis around us.

They will not understand why caravan users and pasty eaters - even if the pasties are not eaten at an ambient temperature - should bear the same degree of pain as the bankers, who, as I think many people would concede, were at the very least involved in the Global Crisis that paved the way for the recession of recent years.

Given that we are facing an extraordinary event, why not place the excess debt created by the circumstances of the Global Crisis into a sinking fund?

It was a Global Crisis, but in the UK it highlighted fundamental dangerous flaws in the existing tripartite system of regulation.

Regulatory architectures failed in numerous forms and in various geographies as part of the Global Crisis.

All we got from this summit was more of the same: drift and inaction in the face of a Global Crisis.

If ever there was a time for the international community to come together and act, this was it, but frankly - I think that the Prime Minister may himself really recognise this - all that we got from the summit was more of the same: drift and inaction in the face of a Global Crisis.

I wish to remind the Minister that the Recent Global Crisis and the associated recession has caused the biggest fall in activity at UK airports since the 1950s.

When the Global Crisis hit, the United Kingdom was among the hardest hit.

We are having this debate precisely because we did not have the tools in place in legislation to deal with the Global Crisis when it unfolded.

In addition, if the correction were not made, there would be quite a fundamental breach of the jobseeking system, which was used so effectively by the previous Government to achieve - before the Global Crisis - the highest rate of employment in the UK since the 1970s.

Of course there is the Global Crisis but others are navigating the storm more swiftly than Britain.

Much as the Labour Government would have liked to control the whole world, we certainly did not run the USA or Japan, or any of the other advanced nations, but they experienced a Similar Global Crisis.

Much as the Labour Government would have liked to control the whole world, we certainly did not run the USA or Japan, or any of the other advanced nations, but they experienced a similar Global Crisis.

That needs to be the response that we all take to the Global Crisis affecting Christians.

She called it a “Global Crisis”.

Given the scale of the Global Crisis that HIV/AIDs represents, it is vital that we continually examine the effectiveness of the action being taken, at home and abroad, both to ensure that there is treatment for those who need it and to slow and halt the spread of the disease.

Since the Global Crisis, the unemployment figures for my constituency have rocketed from 2,800 in 2008 to 5,300 in 2014 - that is a staggering increase of 89.

The failure to protect the Article 18 rights for 76% of the human population is nothing short of a Global Crisis.

If there is no functioning health service, a single outbreak can turn into a Global Crisis.

The Global Crisis, austerity and a series of media disclosures about the low tax bills and complex avoidance schemes of multinationals and high net worth individuals have led members of the public to question like never before whether, when they pay their tax, their neighbour is doing the same.

Conservative Members started laughing when I mentioned the Global Crisis, but they perhaps need to be reminded that when Labour came to office in 1997 the national debt to GDP ratio was 43% but by 2002, five years later, it was down to 30% under Labour.

We had a Global Crisis.

Even after a Global Crisis, it was only 60%.

In case noble Lords have forgotten, the Global Crisis started with subprime mortgages in the United States.

A Global Crisis needs an international response.

He knows as well as we do that the steel industry right across the UK, not least in Wales, faces a Global Crisis.

Ministers have spent a huge amount of time in recent months trying to find ways to ease the pressures on that industry, which faces a Global Crisis.

” Thankfully, medical opinion is, in the vast majority of cases, that the looming Global Crisis can be avoided if we take action, but it must be taken sooner rather than later.

Rather than reforming the finance sector and rebuilding our production base, the number of manufacturing jobs in this country is still almost 10% below that before the Global Crisis and crash.

This Global Crisis has reached unprecedented levels.