Alistair Darling: Beating Back Disaster

Underhill, William, Newsweek International

Byline: William Underhill

We used to talk 15 years ago about returning to full employment; people would laugh. We have made huge strides.

The timing of Alistair Darling's latest promotion was, at the very least, unlucky. A year ago he took over Britain's finances as chancellor of the Exchequer from Gordon Brown and, within weeks, the outlook for the British economy--once seen as a model performer in Europe--had darkened. With soaring oil prices, rising inflation and the credit crunch, an IMF report last week praised the country's record but cut its growth forecast for 2008 to 1.4 percent. In London, Darling spoke with NEWSWEEK's William Underhill. Excerpts:

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Publication information: Article title: Alistair Darling: Beating Back Disaster. Contributors: Underhill, William - Author. Magazine title: Newsweek International. Volume: 152. Issue: 08 Publication date: August 25, 2008. Page number: Not available. © 2009 Newsweek, Inc. All rights reserved. Any reuse, distribution or alteration without express written permission of Newsweek is prohibited. For permission: www.newsweek.com. COPYRIGHT 2008 Gale Group.

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