21 December 2001, 09:58 BoE's George warns on 'one-size fits all' euro stance
LONDON (AFX) - Sir Edward George, the governor of the Bank of
England, yesterday warned of the dangers of the "one-size-fits all"
monetary policy inside the euro zone, the Financial Times reported
citing an interview George gave on German television.
The FT pointed out that George does not take a public position on
the euro, but in his interview set out the potential advantages of the
UK joining, including "nominal stability of the exchange rate with our
trading partners".
However, the newspaper said his depiction of the potential downside
seemed more wholehearted.
"I regard the one-size-fits-all monetary policy as a disadvantage
and particular risk," he said. "The same monetary policy isn't
necessarily the best for every country at the same time."
jdd/ak NNN
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