Journalist defends Old Lady's "low morale" claims

Irwin Stelzer, the journalist who wrote last week that a senior Bank of England official had said the British chancellor and prime minister were blocking changes to banking regulation because of low morale, has described it as "a pity" that Mervyn King, the governor of the Bank, denied the claims.

Writing for the Sunday Times, Stelzer said: "I have the highest regard for the governor, admire his grasp of monetary policy and would never for one moment deny his integrity. But it is a pity that

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