- Bank of England's Statement on UK and EU

Statement by the Bank of England

22 May 2015

"Today, information related to planned confidential Bank work on the potential implications of a renegotiation and national referendum on the UK’s membership of the European Union made its way into the public domain, due to an internal email sent inadvertently to an external party.

It should not come as a surprise that the Bank is undertaking such work about a stated government policy. There are a range of economic and financial issues that arise in the context of the renegotiation and national referendum.  It is one of the Bank’s responsibilities to assess those that relate to its objectives.

It is not sensible to talk about this work publicly, in advance. But as with work done prior to the Scottish referendum, we will disclose the details of such work at the appropriate time.

While it is unfortunate that this information has entered the public domain in this way, the Bank will maintain this approach."


SOURCE: http://www.bankofengland.co.uk/publications/Pages/news/2015/052.aspx

Our Comments
1. Bank of England seems to be unable handle nation sensitive data. Can one rely on it to ensure stability of sensitive financial sector?
2. Is the Statement a case of  Not to be believed until denied?
3. The cyclical pattern of UK economy may seem to have more in common with USA than Europe. From the 1990s, UK has never been so comfortable with its  association with European Union.
4. Geo-politically USA  is too crucial for England. 


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