Brown sees financial turbulence ahead

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LONDON, Dec 30 (Reuters): British Prime Minister Gordon Brown said today his 2008 priority would be dealing with the global credit crunch and steering a stable course through the financial turbulence.
"The global credit problem that started in America is now the most immediate challenge for every economy and addressing it the most immediate priority," he said in a New Year's message setting out his goals for next year.
"Our strong economy is the foundation. And with unbending determination, in 2008, we will steer a course of stability through global financial turbulence," he said.
Six months after succeeding Tony Blair, Brown's popularity has slumped due to government blunders and growing economic clouds, including a crisis at mortgage lender Northern Rock that led to the first run on a British bank in more than a century.
Northern Rock, Britain's highest profile casualty of the credit crisis, has had to borrow at least 25 billion pounds ($50 billion) from the Bank of England.
Brown and finance minister Alistair Darling have come under fire for their handling of the crisis but Brown expressed confidence the economy would not be pushed off course.