King laments growing problems in global economy

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The governor of the Bank of England, Mervyn King, today (June 26) expressed his growing consternation about the global economic picture in a Treasury Select Committee meeting that also saw him challenged over the decision-making process for a new funding scheme for banks.

Of the world economy, King said the "worsening position in Asia and other emerging markets," and growing concerns from "colleagues in the US" about the economy there had left him "pessimistic" about the successful resolution of

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