May 24, 2013 / 12:59 PM / 6 years ago

BoE's King calls for 'common sense' in austerity debate

HELSNKI (Reuters) - Opposing sides in the debate about whether countries should focus on austerity or growth overstate the true difference between their positions, Bank of England Governor Mervyn King said on Friday.

“What we need is more common sense,” King told an event here. “This debate has been vastly exaggerated by people who want to make political arguments.”

King was speaking two days after the International Monetary Fund called on Britain to spend more to fund investment, a call unlikely to be heeded by Chancellor George Osborne.

Reporting by Ritsuko Ando, writing by Christina Fincher

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