Former Bank of England policy maker DeAnne Julius said Paul Tucker may be the “safest” choice to succeed Mervyn King as governor because he is well known to the people making the appointment.
“If I were still on Court, or on a board of that sort, usually the internal candidate is the safest because you know that person well,” Julius said in an interview with Bloomberg Television in London today. The Court is the Bank of England’s governing body.
Asked if Tucker was justifiably the favorite for the governorship, Julius said “probably,” adding that the other candidates for the role are “perfectly credible.” She declined to say if Tucker would be her choice.
The deadline for applications for the Bank of England governorship closed earlier this week. Chancellor of the Exchequer George Osborne will announce a successor to King, who steps down in June, by the end of the year. Julius said she didn’t apply as the new, eight-year term would have required too great a commitment.
“I have quite a good life at the moment,” she said. “To sign up for an eight-year stint of essentially a 24/7 job with that kind of pressure is something you have to really want to do, and be committed to do, to apply.”