BoE prepares for euro collapse

clock

David Cameron hosted a meeting with Mervyn King yesterday to prepare the Bank of England for the collapse of the euro and discuss contingency plans.

Measures could include cutting interest rates or launching more QE. A senior official for the Bank said the measures would "again play [their] part in mitigating the impact" of Greece or other countries leaving the single currency, the Telegraph reports. The Prime Minister and Governor of the Bank also met with Lord Turner, the chairman of the FSA, and the Chancellor as fears grew Greece may be forced out of the euro if a coalition government cannot be formed to back austerity measures. In Britain, ministers have already overseen extensive contingency planning to prepare for the poss...

To continue reading this article...

Join Investment Week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot