Video: Tony Blair warns of the financial crisis

Admittedly Blair’s warning of the financial crisis was 20 years too early…

This is a great news report from the 1987, which reminds you that there’s always something terrible going on in the markets. Panic is nothing new.

Doesn’t Tony Blair sound wise? And posh? And young?

And prescient, when it comes to the financial crisis:

“The real problem we’re left with is that we now have an economy which is so locked in to international trading, so dependent on what happens in America, that anything that happens in Wall Street reverberates around the world. Now the key lesson that we’ve got to take out of this is the necessity for governments of any political colour to work together to stop the excesses of the free market, because that’s what’s really been shown over the last few days.”

Perhaps Blair saw the writing on the wall for the markets while still Prime Minister, and so let Gordon Brown take his job – and later the blame for the financial crisis?

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