Mark Carney faces toughest task yet as fears grow world is entering darkest phase since financial crisis
Mark Carney was getting bored at the Bank of Canada when he decided in November 2012 to accept an offer to lead the Bank of England. “This is a major challenge,” he said of his new job, leaving little doubt that he thought his current post had become less of one. “It’s a major opportunity,” Carney added. “It is very important for the global economy that the U.K. economy does well.”
He’s not bored now. The native of Fort Smith, Northwest Territories, is in the middle of the most seismic geopolitical event since the dissolution of the Soviet Union. The historic collapse of the pound on Friday after the Brexit vote — not to mention Prime Minister David Cameron’s announcement that he would resign in three months — shook the foundation of British politics. The governing Conservatives were jostling over who would replace Cameron; elected members of the Opposition Labour Party were in open revolt against their leader; the head of the Liberal Democrats, the No. 3 party that helped the Conservatives form a coalition government in 2010, said it would lead a campaign to ignore the referendum; and the premier of Scotland said she had begun preparations for a second referendum on leaving the U.K.
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