William Keegan: When banker turns publicly on banker

Written by William Keegan Sunday, 27 January 2013 11:00
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 From The Observer

The outgoing governor of the Bank of England indulges in thinly disguised criticism of the views of his nominated successor, the Canadian Mark Carney. A former member of the Bank's monetary policy committee – the American Adam Posen – conducts a manifestly undisguised assault on the centralised way in which Sir Mervyn King allegedly runs the Bank, having already on many occasions differed from him on policy.


And he concludes:


Thus, as Gordon Brown wrote recently in an article for Reuters: "The policy void today lies less in the weaknesses of national central bank leadership than in the reluctance of national governments to contemplate global leadership." Brown demonstrated such leadership in 2008-09, both in his contribution to the rescue of the banking system and in coordinating the G20 economic stimulus in April 2009. Then came the austerity merchants, to, literally, devastating effect.

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William Keegan is the author of 'Saving the World'? Gordon Brown Reconsidered. 

Last modified on Sunday, 27 January 2013 11:15

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