Brown speech on international reform

LONDON (Reuters) - Highlights from Prime Minister Gordon Brown's speech on the world's financial system:

"This crisis demonstrates beyond doubt that a global capital market requires much stronger global cooperation and supervision. And we need to ensure that we have an effective global early warning system to alert us across continents to economic and financial risk."

"Around us we must build a new Bretton Woods. A new financial architecture for the years ahead. Sometimes it does take a crisis for people to agree that what is obvious and should have been done years ago can no longer be postponed. But we must now create the right new financial architecture for the global age."

"This financial crisis now affects the whole world and because we recognise the importance of Asia, so I am in touch with the Asian authorities too.

"Later this week we will go further when we meet as a European Council in Brussels and we are proposing a world leaders meeting at which we must agree the principles and policies for restructuring the financial system across the globe."