Who’s Banking on Carney?
“It is true, we have the only banks in the western world that are not looking at bailouts or anything like that.” Stephen Harper, Canadian Prime Minister, 23rd February 2009.1 Mark Carney’s appointment as the new Governor of the Bank of England (BOE) was, we have been told, based mainly on how successful he has been as the Governor of the Bank of Canada (Canada’s central bank). He had navigated the Canadian economy through the choppy waters of the financial crisis and central to his success has been the claim that no Canadian banks had needed to be bailed out….
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