By Alistair Darling
Alistair Darling's long-awaited publication could be the most reviewed, broadly mentioned, and saleable political memoirs of contemporary years. within the overdue summer time 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 purely the 1st. 365 days later, because the global used to be engulfed within the worst banking hindrance for greater than a century, one among its greatest banks, RBS, got here inside of hours of cave in. Back from the Brink tells the gripping tale of Alistair Darling's a thousand days in quantity eleven Downing highway. As Chancellor, he needed to keep away from the cave in of RBS hours sooner than the money machines may have ceased to operate; on the 11th hour, he stopped Barclays from buying Lehman Brothers so that it will defend united kingdom taxpayers; he used anti-terror laws to prevent Icelandic banks from chickening out cash from Britain. From obstacle talks in Washington, to dramatic conferences with the titans of overseas banking, to facing the big political and financial 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 publication can also be a candid account of existence within the Downing road strain cooker and his courting with Gordon Brown over the last years of recent hard work. again from the edge is a bright and speedy depiction of the British government's dealing with of an exceptional worldwide monetary disaster. Alistair Darling's wisdom and figuring out supply a distinct point of view at the occasions that rocked overseas capitalism. it's also an important ancient record.
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Extra resources for Back from the Brink: 1000 Days at Number 11
They know who they are. Thank you. Finally, I want to acknowledge the one who has continued to provide me with everything I could ever ask for – Margaret, my wife. She helped keep the show on the road and I was hugely fortunate that she chose to come and live with me in Downing Street for those three years. Without her I wouldn’t have lasted the course. I want also to thank my children, Calum and Anna, who, for so much of their growing up, I was an absent presence. This book is for them. Edinburgh, July 2011 Prologue I don’t believe in panicking before it’s absolutely necessary but I came close to considering it on the morning of 7 October 2008.
I cannot tell this story without dealing with the often fraught and increasingly difficult relationship with the prime minister, Gordon Brown. The three years I served as Chancellor were also, sadly, a period of decline in the political fortunes of the Labour Party, which I believe could have been avoided had we played our hand differently. As the cliché has it, in every crisis there is an opportunity: in this case, to show that we could deal with the financial meltdown, come through it, and chart a way forward.
10, to be asked formally to serve by the new Prime Minister, Tony Blair. On the flight down, the pilot, seeing that I and my colleague, George Robertson, about to be made Defence Secretary, were on board, told our fellow passengers we were on our way to Downing Street. There was a resounding cheer – something rarely heard again. We made the most of it. I knew I was going to be Chief Secretary because Gordon had asked me a couple of days before the election if I would serve in the job. It was no great surprise, then, when Tony repeated the offer in the Cabinet Room.