“The Northern Rock debacle has become a major headache for Brown and his Chancellor Alistair Darling, tarnishing the government's popularity and denting the prime minister's reputation for being a guardian of financial stability.
“The move to temporarily nationalize the bank could be a blow to Britain's efforts to establish London as the global capital of finance and politically costly to Prime Minister Gordon Brown, who has staked his career on his stewardship of Britain's economic boom.
LA Times, USA
“The four month old crisis of the bank has seriously damaged the reputation of Prime Minister Gordon Brown. The temporary nationalisation of Northern Rock continues the fiasco for the British Government.
Frankfurter Allgemeine Zeitung (FAZ), Germany
“With a national election due by May 2010 at the latest, the debacle is a lingering headache for Brown and Darling and has tarnished both the Labour government's popularity and the prime minister's reputation as a guardian of financial stability.
“It was the first nationalization of a bank in more than a decade and a huge blow for the administration of Prime Minister Gordon Brown.
New York Times, USA
“The government faced a barrage of criticism on Monday over its decision to nationalise the Northern Rock bank, amid questions over its reputation for economic competence.
Agence France Presse (AFP), France
Monday, February 18, 2008
How the World is Viewing Northern Rock
From the way Labour spinners have gone into overdrive you'd think the nationalisation of Northern Rock was nothing more than "a little local difficulty". The world's media seem to have formed a different view...