LONDON (MNI) – The UK economy is not showing great signs of
recovery, while the euro area crisis is dampening investment around
the world, Bank of England Governor Mervyn King said in a BBC Radio 4
programme.
King’s comments in a regional visit were downbeat, highlighting the
gloomy outlook for the UK economy. He warned that the euro area crisis
was growing, with policymakers just “kicking the can down the road.”
“Back in 2010 we had expected the economy to expand slowly but
gradually so that we would see a recovery coming through. That has not
happened and the economy has basically been flat for two years and
doesn’t show a great deal of signs of impending recovery,” King said.
-London Bureau; Tel: +44207862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,M$$BE$]
