The Bank of England (BoE) must reconcile the "paradox" of supporting greater eurozone integration while at the same time working to ensure that such developments "do not swallow up the single market", Jon Cunliffe, the BoE's deputy governor for financial stability, told a parliamentary committee today.

Cunliffe, who was the UK's top civil servant in Brussels before joining the BoE last year, told the House of Lords committee on economic and financial affairs that what is "right under the