Monday 26 November 2012

Mark Carney,Canadian to succeed Mervyn King as the next governor of the Bank of England.

LONDON - In a surprising departure from convention,the British government on Monday selected Mark Carney, the head of the Canadian central bank, to succeed Mervyn King as the next governor of the Bank of England.
The appointment ended a months-long process in which some of Britain's most prominent public officials vied hungrily for a post that will come with sharply enhanced powers.
The odds were heavily stacked in favor of the Bankof England's deputy governor, Paul Tucker. The decision to select a foreigner to lead Britain's most storied financial institution came as a shock when George Osborne, the chancellor of the Exchequer, broke the newsduring a session of Parliament on Monday.