Mervyn King, the Aston Villa supporting financier has left or is leaving the Bank of England. There seems to be a few other major financier’s leaving such as Stephen Hester of RBS are going to pastures new which in my view is a sign that George Osborne is getting about fed up of the economy sluggish growth.
George Osborne needs a result and therefore needs to shake up the positions he can influence. Quantitative easing needs to trickle down to the real economy. £1.5 billion was wiped of the shares when Stephen Hester decided his position was untenable or some other such phrasing. Stephen Hester could not reconcile being a world class bank and a institution that takes risk on investing in speculative ventures.
Mervyn King knows that George Osborne wants to win the election in 2015. He can only win the election if the economy is getting stronger and bigger in a way that the ordinary public can believe in. Mervyn King would have been in the way of George Osborne ambitions and needed to go. This position is at the root of the next 2 years financial policy along with big companies evading tax and possible war in the Middle East.
2015 election campaign has just begun!