18 March 2009

Bank of England Boss Warns EU

Mervyn King, Governor of the Bank of England, has spoken over the apparent lack of unification from world leaders on how to deal with the global recession.

Speaking from Mansion House, King warned that being too cautious would cause the recession to last much longer than necessary and could lead to further disaster.

Recently, Germany and France have said that they do not believe they should inject more cash for now, and that they have done enough.

There are some who may think that King is being rather risky to so openly criticise other countries who have in fact so far retained more stability in the economic downturn,

In contrast, the UK's financial sector has come under widespread criticism over its instability and what many see as very risky and unnecessary decisions in recent times. It is no secret that the British Pound has taken a beating thanks to the lack of confidence in the UK market, reaching near parity with the Euro.

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