I well remember when Tony and Gord appointed Merv as governor. In the eyes of bank insiders he was the worst of the three candidates, the other two were Andrew Crockett, old bank hand and then head of the BIS, and Howard Davies, former BoE deputy Gov and then founding head of the FSA. But the politicos chose Merv who has been a disaster.
This time there are 5 names in the frame:
Paul Tucker, my old boss and long term bank employee
Gus O'Donnell, God for shor,t and recently retired cabinet secretary but worst of al before that permanent sec at HMT
John Varley former chief of Barclays
Stephen Green former HSBC chairman
Adair Turner of the FSA
Its a pity that Peter Sands, head of Standard Chartered has rule himself out as he knows he is persona not welcome at HMT
John Vickers former bank chief economist has also been mentioned.
I just hope they go for a banker this time, Tucker, Varley or Green. Wee George's chief of staff one Matt Hancock now MP was Tucker's bag man when at the BoE. Interesting!
Mean while Spain sinks further in the mire with 10 year rates today at 6.1%. The EU solution of demanding banks hold more and more capital is insane. It merely ensures banks will lend less. There will be fewer jobs and less tax and so on. Madness!
Meanwhile in the democratic republic of the SW I hear the skids are under the belted earl with the favoured candidates for the next Euros being Steve Crowther and Neil Hamilton. Wow what a pair. It will certainly increase the UKIP battleaxe quota.
I have upped my bet on the independent lady for London Mayor. I think she could finish second to BoJo. Anyway I am off to France to watch the action with Sarky so no blogs for the next 10 days.