BoE’s King ‘Like a Tyrant,’ Blanchflower Says in New Statesman

Bank of England Governor Mervyn King runs the country’s central bank like a tyrant and his retirement should pave the way for a cleaning out and the introduction of fresh blood, former Monetary Policy Committee member David Blanchflower wrote in the New Statesman.

“It’s never easy replacing a tyrant but there are huge benefits from doing so. The pain is usually worth it,” Blanchflower wrote.