Carney an “enemy” of bailouts

Bank of England governor Mark Carney drew a hard line in the sand on taxpayer bailouts in a speech he gave at an event marking the 125th anniversary of the Financial Times.

Read: UK won’t raise interest rates – Prince George pleased

“The Bank of England today is the friend of resilient banks, continuous markets, and good collateral; and we are the enemy of taxpayer bailouts, fragile markets and financial instability,” he said.

He also stressed the “need for global rules to make banking and financial markets safer and to make taxpayers immune from failing institutions,” according to an FT.com report.

Read the rest here.

Also read:

Carney against extra QE

Carney’s first statement at BOE is about women

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.