THE GUARDIAN: The deepening world recession has dented prospects for many of the world's leaders trying to contain the financial fallout
The financial crisis has already changed the face of the political world. It decisively tipped the US election in Barack Obama's favour, tarnishing John McCain with the brush of Republican economic mismanagement. It brought Gordon Brown back from the political dead, making him appear statesmanlike, assured. It helped Nicolas Sarkozy turn his approval ratings round, as he too sought to offer crisis leadership and this week produced a package heavily larded with populist measures. A handful of other leaders around the world are having a "good" crisis, most notably Brazil's President Luiz Inácio Lula da Silva, another economic populist, who is basking in 70% approval ratings.
But across much of the world, it has been hard to avoid one of the intractable laws of politics - when the economy goes south, the people in charge get the blame. Canada's prime minister, Stephen Harper, is feeling the pain most acutely this week, but just about everyone running a substantial economy anywhere must now be worrying about their own job security. That goes too for those untroubled by the necessity of holding elections. Popular wrath has other ways of making itself felt. >>> Julian Borger | December 6, 2008
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