BoE: Mervyn comments on Euro - Investec

Research Team at Investec, notes that on Sunday, former governor of the Bank of England Mervyn King made the point that the European single currency is a serious problem for Britain whether or not the country leaves the European Union.

Key Quotes

“We are influenced and affected by what goes on in the euro area.” He says the euro has been economically “a, if not disaster, very serious problem.” Regarding the referendum he went on to say “in or out,” Britain would have close ties to the Eurozone. “The euro area is our biggest trading partner, that’s going to carry on being the case and therefore it does matter to us what goes on there.”