The Bank of England (BoE) considered buying bicycles so its officials could move around London in the event of a full-scale financial meltdown, it has been revealed.
The plan was disclosed by former City minister Lord Myners who said it "tells you a huge amount" about the Bank's understanding of complicated financial markets, the Telegraph reports. Speaking in the House of Lords last night, Lord Myners, a former member of the Court of Directors of the Bank, said: "In the light of what we now know about the Bank of England, I think we have to ask whether it is still right to be putting as much authority in the hands of the Bank without appropriate accountability. "When I was a member of the court, I sat in on a meeting of the financial stability co...
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