Brown's claims two weeks ago, at the G20 meeting, were that all participants had agreed a need for fiscal stimulus, a statement that did not agree with the final communique. Although this has been a fast-moving period, the eternal rush of crisis management is ebbing away, replaced by an increasing torrent of bankruptcies, job losses and negative news. The cycle has turned again.
Brown seems to have been acting as the political frontrunner for the European Commission which has called for a stimulus of 1.5% of European GDP, with prudent countries requested to provide more funds. This is accompanied by the creation of a new EU 'Treasury' to disburse this largesse and accrue greater kudos for Brussels. How has this request been received? Yes, like a floating turd: since the Commission, never subtle, does not have to deal with electorates. The value of solidarity, that the French coo every time they need other people's money, has been rejected by Germany.
The package is worth 1.5pc of GDP of Europe's GDP, exceeding the 1pc plan unveiled by Britain's Chancellor Alistair Darling this week. It includes €30bn of direct spending by the EU's own institutions, amounting to a significant step towards the creation of an "EU treasury".
Under the proposals - to be submitted to EU leaders next month - each country can choose its own mix of tax cuts and extra spending. Mr Barroso said those countries with budgets in good health - chiefly Germany, the Netherlands, and Scandinavian states - will be expected to make a "much bigger offer" in terms of overall stimulus than they have provided so far. "Those that used the good times to achieve stable public finances have most room for manoeuvre," he said.
German Chancellor Angela Merkel poured cold water on the plans yesterday and insisted that Berlin would not follow Britain's lead in cutting VAT. "We should not get into a race for billions. Germany is very strong," she said.
Brown's boast that the G20 had signed up to his fiscal stimulus package was a deceit: political management designed to shore up his support. Clearly: our Prime Minister does not mind building his electoral campaign on taking gambles with the lives and economic pain of millions. All principles will be replaced by socialism if that is what it takes to secure another term.
If he can return to old Labour eighteen months before an election, how much further will he go?