Mervyn King

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.

David Cameron will urge eurozone leaders to "make up or break up" today as he fears the euro unravelling will further dent the British economy.

Sterling has fallen against the dollar today after a dovish quarterly inflation report from the Bank of England cut growth forecasts and left the door open to further QE.

Fifteen years ago to the week, in May 1997, the thumping strains of D:Ream's Things Can Only Get Better heralded the arrival of Tony Blair, Gordon Brown and New Labour.

ECONOMICS

ECONOMICS

Lord Norman Lamont, former Chancellor of the Exchequer, has blamed the Bank of England's low interest rate policy in the mid-2000s as the "biggest single contributory factor" of the 2008 crisis.

Bank of England governor Mervyn King has admitted the central bank failed to warn of the risks banks were taking ahead of the crisis in 2008.

A former member of the Monetary Policy Committee has claimed Bank of England governor Mervyn King was "unprepared for the crisis" that wrecked the world economy and "controlled the bank with an iron fist."

Reports suggesting Bank of Canada governor Mark Carney is being lined up to replace his Bank of England (BoE) counterpart Sir Mervyn King have been denied.