British P.M. calls for global stimulus

NEW YORK, Nov. 14 (UPI) -- British Prime Minister Gordon Brown, in the United States for the G20 global financial summit, said Friday he expects the world economy to double in 20 years.

In a speech to the Council on Foreign Relations in New York, said that the global economy needs financial stimulus more than interest rate cuts, The Guardian said. He called on governments around the world to work on a coordinated approach to the economic crisis.

"The is no doubt that some countries might have zero inflation next year so there is no point having further cuts without a fiscal stimulus," he said.

Brown also met in New York with Paul Krugman, the Princeton University economist and New York Times columnist who won this year's Nobel Prize in economics, and other leaders in the field, The Daily Telegraph reported.

The economic summit's aim is to begin updating the economic institutions created by the Bretton-Woods agreement immediately after World War II.