Europe: The Governor wades in

The European agenda is back following a speech made by Bank of England Governor Mark Carney last night on Britain's membership of the European Union. Mr Carney appeared to make the assertion that membership of the EU has opened up the UK economy and made it more dynamic, with many arguing this is likely to be seen as strengthening David Cameron's hand as he prepares to enter negotiations with Britain's EU partners ahead of the referendum. The Governor is certainly an influential figure to have plug the more pro-European arguments for membership at this time, with the pro-European side of the campaign criticised for being slow off the mark and struggling to make the case for EU membership.

However despite presenting what appears to be more pro-European rhetoric, Mr Carney left enough doubt for some of the Eurosceptic camp to get excited. Some of the more right wing press are reporting this morning that Mr Carney accused the EU of lacking flexibility over rules which govern the City of London. As usual in this campaign, both supporters and opponents of Britain's EU membership will look to pluck lines from major speeches made on the subject to burnish their credentials. As ever only time will tell on which side of the fence many major political figures such as Carney really sit.

Peter Folland

Hill & Knowlton Strategies Search