Reaction as King calls crisis 'worst ever' for UK

Bank of England governor Mervyn King has described the current financial crisis as the "most serious" the UK has seen for at least 80 years.

Speaking to Sky News after the Bank authorised the injection of a further £75bn into the economy through quantitative easing (QE), King said: "This is the most serious financial crisis we have seen at least since the 1930s, if not ever." The Bank has already pumped £200bn into the economy. Here is how this morning's national newspapers summarised yesterday's development: The Telegraph Printing more money won't work this time Inflation, not deflation, is the problem for the UK - and the Bank of England will make it worse. Yesterday, the Bank announced that it intended to extend ...