British Banks ‘Bamboozled’ Government, Ex-BOE’s Jenkins Says

Robert Jenkins, a former member of the Bank of England’s Financial Policy Committee, said banks have wrongly convinced government that measures to improve the safety of the financial system will curb growth.

“I fear that the banks have bamboozled government into believing that society must choose between safety and growth, between safer banks and bank shareholder value, and between a safer financial framework and a competitive City of London,” Jenkins said in an interview. “These are all false choices.”