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Governor tells Osborne: you must act now to tame the City

Publié par Clifford Armion le 05/03/2012

Ben Chu

The Governor of the Bank of England, Sir Mervyn King, has demanded that the Government speed up its reform of Britain's financial sector. He also attacked bankers for resisting new financial regulation in order to protect their large bonuses.

Sir Mervyn warned last night that "vested interests" in the City of London were trying to scupper reforms meant to prevent another crisis.

The Chancellor, George Osborne, met the bosses of Barclays, the Royal Bank of Scotland and Lloyds in the days before the Vickers report on reforming the banking sector was published in September 2011. Last December, The Independent revealed that senior bank executives met or called Treasury ministers nine times in the weeks after the report's release.
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"Governor tells Osborne: you must act now to tame the City", La Clé des Langues [en ligne], Lyon, ENS de LYON/DGESCO (ISSN 2107-7029), mars 2012. Consulté le 04/03/2021. URL: http://cle.ens-lyon.fr/anglais/archives/archives-revue-de-presse/governor-tells-osborne-you-must-act-now-to-tame-the-city