European Central Bank

Hamish McRae: Working out how to quit QE will be new boy Carney’s

Mark Carney begins work at the Bank of England tomorrow. There is a great temptation, as you can see from the stuff that is being written about the appointment, to see this as leading to a significant shift in policy – something that will enable the UK economy to reach “escape velocity”. The fact that the Bank has been given additional responsibilities for regulating the banking system, making the job on paper at least more powerful, increases the temptation.

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Germany's denied it. So has the ECB. So whose idea was it to demand a

The eurozone was still embroiled in an acrimonious dispute tonight over whose idea it was to impose a tax on the savings of ordinary depositors in Cypriot banks – a decision that has instigated a financial panic on the Mediterranean island and reactivated the wider eurozone sovereign debt crisis.