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Mervyn King

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Churchill replaces Elizabeth Fry on the £5 note


Elizabeth FryThis week Mervyn King, the Governor of the Bank of England, announced Winston Churchill will replace social reformer Elizabeth Fry as the face of £5 notes. This means that, other than the Queen, there will be no women featuring on our English bank notes.

An all-male line-up on our banknotes sends out the damaging message that no woman has done anything important enough to appear. This is patently untrue. Not only have numerous women emerged as leading figures in their fields, they have done so against the historic odds stacked against them which denied women a public voice and relegated them to the private sphere – making their emergence into public life all the more impressive and worthy of celebration.

For more information on this petition see: Change.org

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Mervyn King Warns the Banks on Profitising from Customers


Banks are trying to maximise short-term profit at the expense of customers, the Bank of England governor has said.

In a Daily Telegraph interview, Mervyn King questioned the bonus system and warned that failure to reform the sector could result in another financial crisis. BBC correspondents say the remarks are significant because the Bank of England is taking over regulation.

Banking chiefs said they “respected” Mr King but disagreed with his comments. BBC business editor Robert Peston said the interview showed Mr King had “little respect” for the banks.

His remarks come weeks after Chancellor George Osborne signed Project Merlin.

Source:http://www.bbc.co.uk/news/business-12655035

Sky News

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