Former chancellor criticises BoE’s King


Former chancellor of the exchequer Alistair Darling felt the governor of the Bank of England Mervyn King, did not "recognise the scale of the problem", as the financial crisis gripped the UK.

In his new book, titled Back from the Brink, Darling explained that while he wanted to act rapidly to get cash into the UK financial system, King said it "wasn't the job of the central bank to assist banks in their continued profligacy".

Accusing King of failing to understand the severity of the situation

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