An uphill struggle.(interview of Mervyn King governor of Bank of England)(Brief article)

Financial Adviser, November, 2007

The decision by Mervyn King, the governor of the Bank of England, to give an interview to the BBC's business editor Robert Peston, in Radio Four's File on Four special, may turn out, when the dust is settled, to be the longest exit interview in recent business history.

This does not mean that the governor was wrong in his initial reaction in the wake of the Northern Rock affair to turn down the request for cash to aid its crisis-hit cash flow.

The governor might have been right in retrospect to have defended his position in the blame and counter-blame surrounding the crisis, but given the whispering campaign against him his struggle is an uphill task.

One thing the interview has done is to introduce much-needed clarity during the event,...

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