Greenspan to advise UKs Brown on global economy

London, Feb 1 | Updated: Feb 2 2006, 05:45am hrs
Newly retired US Federal Reserve chairman Alan Greenspan has agreed to be honorary adviser to British finance minister Gordon Brown on global economic change, the Treasury said on Wednesday. Greenspan, who stepped down on Tuesday after nearly 19 years of running the US central bank, has long enjoyed a close professional relationship with Chancellor of the Exchequer Brown.

I am delighted that Dr Greenspan has agreed to be honorary adviser. His advice on issues relating to global economic change will be much appreciated, said Brown. In December, the British finance minister hosted a special meeting of Group of Seven finance ministers and central bankers in London to pay tribute to Greenspan whom he has long revered as the rock of stability upon which todays global economy is built.