Tags: EU | Britain | Economy

Bank of England Chief: UK Needs Flexibility amid EU Reforms

Wednesday, 21 October 2015 05:48 PM

LONDON (AP) — Bank of England Governor Mark Carney says Britain must retain the ability to set its own financial regulations as the European Union moves toward closer integration of euro-area economies.

Carney made the comments Wednesday in Oxford amid Britain's ongoing debate over its continued membership in the EU. Carney stressed that he was not taking sides, and that the decision will be made by U.K. voters.

However, he said U.K. authorities need flexibility to ensure they can regulate Britain's financial industry. The EU is debating common rules to protect against future shocks such as the Greek financial crisis.

Carney says "it is imperative that U.K. authorities, including the Bank of England, continue to retain the flexibility to impose the high standards necessary to manage the world's leading global financial center."

© Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

   
1Like our page
2Share
Europe
Bank of England Governor Mark Carney says Britain must retain the ability to set its own financial regulations as the European Union moves toward closer integration of euro-area economies.Carney made the comments Wednesday in Oxford amid Britain's ongoing debate over its...
EU,Britain,Economy
131
2015-48-21
Wednesday, 21 October 2015 05:48 PM
Newsmax Media, Inc.
 
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved