![]() ![]() Savings crisis ‘must urgently be addressed’Īnd top of that list? “The biggest challenge facing the UK economy is that Britain saves the smallest proportion of its national income than any other G20 country,” he says. Between bites of his baguette, and a clear distaste for hyperbole, he says there is no shortage of things we should be worried about. It’s one of the hottest weeks of the year, but King, 75 has turned up in a suit and grey tie. His assistant has already emailed ahead of time to suggest what he’d like to eat: “A small sandwich, such as tuna, will be more than enough,” she says. He’s on his way to Westminster when he stops off at The Telegraph offices for a lunchtime chat. Lord King, who left the Bank in 2013 and was given a life peerage for “significant public service”, vowed to continue what he described as a tradition of “ruthless truth-telling” when he entered the House of Lords. ![]() ![]() The collapse of Lehman Brothers that year wiped trillions off stock markets, shook faith in finance and left central banks as the only game in town. “It’s very overused”, he says in the same measured tone that characterised his ten-year tenure as Governor of the Bank of England.īut given that he ran Threadneedle Street during the banking meltdown of 2008 it’s hard to think of someone better placed to speak out on the subject. Mervyn King doesn’t like the word crisis. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |