'As bad as a world war': Top BoE exec on banking crisis

The banking crisis has been as damaging to the UK economy as a world war, a top Bank of England (BoE) official has said.

Andrew Haldane, the BoE's executive director in charge of financial stability, said the damage done to income and output was "as bad as a world war". "That is the scale we are talking about," Haldane said in an interview with the BBC. He said the crisis would have a lasting impact on the economic health of the country. Speaking to BBC Radio 4's The World at One programme, Haldane said: "If we are fortunate, the cost of the crisis will be paid for by our children. More likely it will still be being paid for by our grandchildren." He also suggested public anger over the level of b...