By Alistair Darling
Alistair Darling's long-awaited e-book might be the most reviewed, generally mentioned, and saleable political memoirs of contemporary years. within the overdue summer season of 2007, stocks of Northern Rock went into free-fall, inflicting a run at the financial institution - the 1st in over one hundred fifty years. Northern Rock proved to be simply the 1st. one year later, because the global used to be engulfed within the worst banking concern for greater than a century, certainly one of its biggest banks, RBS, got here inside of hours of cave in. Back from the Brink tells the gripping tale of Alistair Darling's 1000 days in quantity eleven Downing highway. As Chancellor, he needed to ward off the cave in of RBS hours earlier than the money machines could have ceased to operate; on the 11th hour, he stopped Barclays from buying Lehman Brothers with the intention to defend united kingdom taxpayers; he used anti-terror laws to forestall Icelandic banks from retreating money from Britain. From main issue talks in Washington, to dramatic conferences with the titans of overseas banking, to facing the large political and fiscal fallout within the united kingdom, Darling locations the reader within the rooms the place the destinies of thousands weighed seriously at the shoulders of some. His ebook can also be a candid account of existence within the Downing highway strain cooker and his courting with Gordon Brown over the past years of latest exertions. again from the threshold is a brilliant and quick depiction of the British government's dealing with of an remarkable international monetary disaster. Alistair Darling's wisdom and knowing offer a special viewpoint at the occasions that rocked overseas capitalism. it's also an essential historic record.
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Extra info for Back from the Brink: 1000 Days at Number 11
The three of us held a telephone conference call on 9 September. Mervyn King was at a monthly meeting of bank governors in Basel. Callum McCarthy was in London. I was in Edinburgh. My concern that the situation was becoming more acute was mounting. Banks were asking for more money in the system. If we could sell Northern Rock, that would be desirable; but most urgent was the need to get money into the banking system to keep it afloat and to prevent further imminent collapse. I wanted general support as well as whatever was needed to deal with Northern Rock.
I am also grateful to David Bradshaw, Steve Field, Lewis Neal, Faisal Islam and Anthony Measures for their help, advice and prompting in the writing of this book. I would like to thank Toby Mundy, Margaret Stead and Orlando Whitfield at Atlantic Books for their encouragement and advice. Thanks also to my literary agents, Maggie McKernan and Georgina Capel, for their support. Karl Burke, who drove me around the country for more than ten years and remained unfailingly cheerful, is owed another debt of gratitude.
Annual Labour Party Conference, Brighton, 28 September 2009. (Rex Features) 15. Alistair Darling on Lewis, summer 2008. (Murdo Macleod) Acknowledgements I am grateful to everyone who helped me write this book. It’s my account and any errors are mine, for which I accept full responsibility. I would like to thank, in particular, Nick Macpherson, who was Permanent Secretary at the Treasury throughout my time as Chancellor, and through him I want to thank all the officials with whom I worked through three turbulent years.
Back from the Brink: 1000 Days at Number 11 by Alistair Darling