Canada's Mark Carney to head Bank of England

France 24, AFP, 26 November 2012 

Mark Carney speaks at a press conference in Mexico City earlier this month.
 Britain's Chancellor of the Exchequer on Monday named Mark Carney, chief of the
Bank of Canada, as the new governor of the Bank of England.

AFP - Britain's Chancellor of the Exchequer on Monday named Mark Carney, the current chief of the Bank of Canada, as the new governor of the Bank of England.

"I can tell parliament and the public that the next governor of the Bank of England is Mark Carney," Chancellor George Osborne told MPs.

"He is quite simply the best, most experienced and most qualified person in the world to be the next governor of the Bank of England."

Carney, 47, who is currently governor of the Bank of Canada and chair of the global Financial Stability Board, will take over from Mervyn King, who has lead the BoE since 2003 and will step down on June 30.

He comes from outside Europe, but in his role at the FSB has been involved in dealing with some of the fallout from the global financial crisis and fighting the eurozone debt crisis.

Britain is not a member of the eurozone, but is deeply concerned that the thrust of European Union policies to reform finance threaten the City of London.

Osborne described Carney as "the outstanding central banker of his generation with unparallelled expertise in financial regulation" who has helped steer Canada through the global financial crisis.

Carney, who intends to take on British citizenship, will serve as BoE governor for a five year term and stand down at the end of June 2018.

"He will bring a fresh perspective," Osborne told parliament. "He has got what it takes to help bring families and businesses through these incredibly challenging economic times.

"My responsibility was to get the best for Britain, and with Mark Carney we've got that."

The announcement took markets by surprise because the bookies' favourite had been current deputy governor Paul Tucker.

Carney will succeed King, 64, under whose watch the British central bank played a vital role in stabilising world financial markets following the 2007/2008 global financial crisis.

The governor leads the Bank of England, an independent body which sets interest rates and has pumped out billions of pounds under its radical quantitative easing policy since 2009 in order to stimulate economic growth.

Carney takes the helm with the BoE due to take over banking regulation from Britain's Financial Services Authority (FSA) next year, as part of a regulatory overhaul aimed at avoiding a repeat of the devastating financial crisis.

The appointment also comes amid a series of damaging scandals that have rocked London's financial district and sparked fresh concerns over the banking sector's conduct.

Aside from Carney and Tucker, other candidates in the running were believed to be FSA chairman Adair Turner, Santander UK chairman Lord Terence Burns, and John Vickers, who chaired the government's recent Independent Commission on Banking.

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(Reuters) - Masters of the universe are not always so masterful after all.

Jamie Dimon, CEO and chairman of JPMorgan Chase & Co., 

poses for  a portrait in his office in New York, in this photo

taken December 22, 2010. (Credit: Reuters/Lucas Jackson)

(Jamie Dimon is "In Containment" according Archangel Michael)

An Hour with an Angel with Archangel Michael – July 16, 2012 (Archangel Michael channeled by Linda Dillon)

SB: It’s my guess that you do not speak about a person in containment, say, without their permission, as with John Roberts and Jamie Dimon. Am I correct in that hunch?

AAM: That is absolutely correct.

Even in containment, we do not override or disregard — let us put it that way, because we are already overriding them — we do not disregard what they in their heart wish the human collective to know.

SB: Can you tell us for what purpose John Roberts and Jamie Dimon would allow their cases to be discussed?

AAM: They have volunteered on a soul level to allow their beings to be disclosed simply because of the impact and the signal of hope that it can offer for so many.