In what has been billed as the greatest comeback since Lazarus, Gordon Brown has been hailed as the architect of the latest international rescue plan for global capitalism.
After the European financial summit in Paris last week, the French press declared that Brown was “a magician raised from the dead”.
The prime minister himself informed us that he was following in the footsteps of “far-sighted leaders like Franklin Delano Roosevelt and Winston Churchill”.
What he has achieved is to damage David Cameron and the Tories – who cannot shrug off the legacy of Margaret Thatcher or the way they are seen as the bankers’ buddies.
Yet Brown is far from escaping his electoral nemesis. Firstly, we have yet to see the full effects of the crisis, with unemployment for example set to surge by the new year. Secondly, we will have to pay for this bailout and that will hit all of us in our already stretched pockets.
Brown is not anti-market. He is acting to prop up the very system that led to the crisis in the first place. The biggest mistake the left could make in this situation is to cheer on Brown, however critically. Now is the time to demand radical, revolutionary solutions.