PM Brown sounds warning on economy

EVIAN, France, July 6 (UPI) -- The world economy still faces grave threats unless world leaders unite on further action, British Prime Minister Gordon Brown said Monday in Evian, France.

Brown, meeting with French President Nicolas Sarkozy in a two-nation summit ahead of this week's Group of Eight meeting in Italy, said prospects for an upturn in the economy will require continuing commitments from the heads of governments, the BBC reported.

Warning that there is "no room for complacency" on the economy, Brown cited continuing protectionist measures, soaring oil prices and a refusal by banks to start lending as danger signals for a world economy that is still very fragile and which could plunge again into a free fall, the BBC said.

"If we do not take the necessary action now to strengthen the world economy and put in place the conditions for sustainable world growth, we will be confronted with avoidable unemployment for years to come," the prime minister said.

After meeting with Sarkozy in Evian, Brown was to travel to L'Aquila, Italy, for the summit of world leaders at the Group of Eight nations, officials said.