If you put aside some of the content (but not all of it) you have to admit that Gordon Brown put in a fairly show-stopping performance at his press conference. He needed to. The only echo of his normal stable of cliches was the use of "we will do everything in our power". He sounded confident, knowledgeable and avoided the usual rash of forced smiles.
Looking through the headline announcements, the most eye catching from my point of view is agreement on how to deal with the toxic assets held by many of our banks. I shall be interested to see the detail of that.
It is interesting to note that much has been made by Gordon Brown of increasing liquidity in the markets, but he seems not to have got his way on a gigantic financial stimulus. The German Finance Minister Peer Steinbruck told Sky News just now...
We are convinced that regaining trust and confidence on the financial markets is a clear pre-condition in order to unfold stimulus packages, and, up to now, we haven’t restored confidence and I’m not willing just to burn money, taxpayers’ money.Good on him. More please.
Now let's see how the markets respond.
UPDATE: Guido is dismissive Brown's urging of the IMF to sell its gold stocks. Because that worked really well last time, didn't it?