Wednesday, November 07, 2007

If king's job is under threat then is the Bank of England independent ?

The Telegraph reports that Melvyn King's job may be under threat over a spat with Alistair 'yet another Scotsman' Darling on who's to blame for the first run on a British bank in over a century.

If so then the Bank of England isn't independent is it ?

1 comment:

Womble On Tour said...

MIAS, I think you mis-understand the meaning of the word "independent".
"Independent" does not mean free to take the decisions you feel are right for the country or to take a position that differs from that of the government of the day.
"Independent" means that you're separate from government but you do what they tell you, so that when everything's fine-and-dandy they can take the credit, and when it all goes tits up you carry the can.
Glad i could clarify that for you.