The appointment of Mark Carney as Governor of the Bank of England raises a number of matters ("New governor: Economic challenges greatest in UK", The Herald, November 27).
The appointment of Mark Carney as Governor of the Bank of England raises a number of matters (\"New governor: Economic challenges greatest in UK\", The Herald, November 27).
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The Bank of England is a very powerful institution and it exists largely outside the realm of democratic accountability. I have no objection in principle to somebody from outside Britain being appointed but this appointment does indicate the level of power the global banking system has over domestic affairs when it can provide individuals to oversee important matters of domestic policy. In many ways the appointment is an improvement over the traditional system of the outgoing governor effectively providing an heir apparent, at least this indicates there has been a slight increase in Treasury control.
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Case for change at central bank
The appointment of Mark Carney as Governor of the Bank of England raises a number of matters ("New governor: Economic challenges greatest in UK", The Herald, November 27).
The Bank of England is a very powerful institution and it exists largely outside the realm of democratic accountability. I have no objection in principle to somebody from outside Britain being appointed but this appointment does indicate the level of power the global banking system has over domestic affairs when it can provide individuals to oversee important matters of domestic policy. In many ways the appointment is an improvement over the traditional system of the outgoing governor effectively providing an heir apparent, at least this indicates there has been a slight increase in Treasury control.
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We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis. If you're a relatively new user then your comments will be reviewed before publication and if we know you well then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules, which are available here.
Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.
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