LONDON: Days before world leaders gather to tackle the financial crisis, British Prime Minister Gordon Brown has called for the most radical reform of international institutions in over half a century.

The British leader appealed for 'a new multilateralism that is both hard-headed and progressive'. Essentially, Mr Brown is offering a five-point plan for the overhaul of the international financial system.

This should involve the recapitalisation of banks - allowing them to resume lending to businesses and families despite their dodgy debts; a better coordination of fiscal and monetary policies between governments; additional money for the International Monetary Fund (IMF) to help poorer nations; a push on free trade; and greater transparency of the international financial system.

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