BoE governor King warns of euro risk to British recovery
LONDON (Reuters) - The single biggest risk to Britain's nascent economic recovery is continued eurozone weakness, the Bank of England's outgoing governor Mervyn King said in a television interview on Sunday.
He called for a "credible medium term plan" to get the economy back on track and said automatic economic stabilizers should be allowed to work.
He also predicted that North Sea oil output would recover in the next couple of years.
King last week predicted that UK growth would be faster and inflation lower than expected three months earlier.
(Reporting by Mohammed Abbas; Editing by David Cowell)
- Tweet this
- Share this
- Digg this
- Israel, Palestinian militant groups agree to three-day Gaza truce |
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- Israel, Palestinian militant groups begin three-day Gaza truce |
- Disappointment, uncertainty after India blocks WTO trade deal
- Argentine markets fall post-default, New York hearing on Friday