Mervyn King warns of dangerous dependence on central banks

Always doom and gloom from King.

King talks far too much whilst he looks for any opportunity to deflect the focus away from his significant contribution to the blind and beguiled mismanagement that led us into this situation.

The so called dependency is because he/they have left us no other option with their politically motivated low interest rates and bail out of a largely corrupt banking system.

He continues to be clueless and looks to inflation as his one forlorn hope of justifying his position as a central banker.

For the UK the BoE's position is as the lender of last resort so stop stating the bleeding obvious.

There have been plenty of times in the past when I have disagreed with Auntie, this is not one of them. The Eurozone problems will not go away by shutting eyes and pretending it isn't there. The poorer of the PIGG economies will have to leave the Euro Zone to prevent them dragging the rest down with them. If EU leaders cannot see what is as plain as a pikestaff then there is only one way it can go taking Germany with them. I do not believe Germany is as foolish as that whatever public announcements have been made in a futile attempt to persuade market forces that they are wrong.

King has warned that the debt crisis is worsening......

This the same King who sat on his hands and said nothing when house

prices were going up 15 - 20% a year ?

To you poltroons and contemptibles. For heaven's sake use your brains: By virtue of his office, his language is constrained to what he can do and say, but is clearly giving you, in his words, a message.

King is unbelievable how the hell is he still the Governor of the Bank of England, him and the Labour government were on watch when all this was bubbling up and they just sat back and watched it all happen, and then put the blame on American sub prime, not all countries got caught up in the mess. they could of controlled the run away housing market but chose not to, keep the good factor rolling at any expense, if it was the olden days Blair, Brown and King would of been hung, drawn and quartered but in this era they are celebrated and rewarded with financial gains. Crazy times!!!!!!!!!!!!!!!!

"Crazy times" - because King, Brown n Blair aren't being hung!

The let things runaway for sure, but don't forget the foundations of this slow motion train wreck were laid by Thatcher. Or that Cam-bourne never said anything in opposition.

When has printing money ever cured an uncompetitive over-indebted economy? Just one successful example would be nice. £275bn of debt created, so far, to "boost" the economy and we are facing calls for more of the same. Meanwhile Merv would like Germany to adopt the same failing policy. Let's hope Angela is made of sterner stuff.

Difficult not to agree with uparse, Andrew Stevenson and others.

For a chancellor who constantly proclaimed his love of prudence it was remarkable to watch the aplomb with which Brown presided over an economy in which house prices were rising at a completely unsustainable rate for several years. Once sensible and truly prudent building societies, such as Bradford & Bingley and Halifax, having demutualised, now joined in the commission driven feeding frenzy. The absurdity of 125% LTV buy-to-let mortgages, and blithe acceptance of liar loans from UK self assessment applicants was just part of the problem. Halifax staff actively engaged in fraud, in that they were routinely churning the endowments supporting their clients mortgages for the sake of the commission; the commercial lending at eg Halifax Reading Corporate, was reminiscent of the Mafia and, of course, Halifax were to play a full part in the PPI scandal that was brewing up.