Mervyn King looks up Sylvia Hotpants

Some people have been tempted to ask, "Do we need a new Bretton Woods"? According to Mervyn King, the answer is clearly "no". Why? Well, there are dangers in them woods. "My mother said, I never should, play with the gypsies in the woods". Especially if they are called Sylvia Porter. Innocent central bankers beware!

Who is, or was, Sylvia Porter? Well may you ask. The Bank's new governor has somehow found time to dig deep into the Bank of England's archives. And he has come up with a gem,

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