Bank of England Governor Sir Mervyn King to issue seventh inflation apology in a row

[Doggy Styles]

That would depend on time period. Is it now? Is it 5 years ago? Is it 1997 when he joined "independent" monetary policy committe? Is it 1948 when he was born?

Be more specific and I might just grace you with the answer worth remembering.

OK, since you ask let's go back to when UK had the chance to join the euro. It is well documented on here that you would have joined it.

The result of that would have meant that, not only would you have had no control over interest rates, but you would also be paying a lot more to bail out the eurozone. I might be wrong but I'd say that's a fail.

So what about now? What levers would you pull that Mervyn King hasn't?

[shaunbhoy]

Just wait until 20-30% payraises demanded by unions

[AtW]

OK, since you ask let's go back to when UK had the chance to join the euro. It is well documented on here that you would have joined it.

Yes I would have.

The result of that would have meant that, not only would you have had no control over interest rates

ECB dropped rates just like BOE and the Fed did, so your argument is total tulip.

Now ECB started slow increase in rates because it is way overdue, BOE lost control over rates anyway - they are meaningless when they are near zero anyway.