BoE's King: 'Coach and horses' driven through pact

Bank of England governor Mervyn King criticised European Union leaders for loosening the fiscal rules that underpin the value of the euro on Thursday 24 March, saying restrictions on government spending in the region lack "discipline."

EU leaders yesterday agreed to allow finance ministers to permit deficits over 3 per cent of gross domestic product in some cases. The rules permit finance ministers to consider ``relevant factors'' such as slower growth or Germany's costs to rebuild its ex

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.