The Bank of England and the Global Financial Crisis

You began as governor of the Bank of England in 2003 when the global financial crisis eventually struck in 2008. Were you surprised by it were you caught off guard by it? Oh yes I think we all knew that the macroeconomic picture in the world economy how to come to an end at some point these imbalances low saving rates high saving rates trade services trade deficits simply could not continue indefinitely, he says.

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