We at The Spectator would like to say sorry to the Prime Minister. When he declared in October that the world needed a ‘new Bretton Woods’ — a reference to the 1944 conference that established the global financial system — we took him at his word. And when he swore that the G20 summit in London would be a great event, and that world leaders would do ‘whatever it takes’, we assumed he meant what he said.

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