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Chamber back governor's call
DERBYSHIRE and Nottin- ghamshire Chamber of Commerce is backing the Governor of the Bank of England Mervyn King's call for greater powers to promote financial stability.
The Chamber says this would be a vital step in avoiding a repeat of the
problems that have damaged the economy.
Derbyshire and Nottinghamshire Chamber president, Phil Stanyer said: "While we are whole-heartedly in favour of an entrepreneurial banking system that is unfettered by overly burdensome regulation, we simply cannot allow the same mistakes to be made again.
"The country has been kicked hard in the teeth as the result of risk-taking that frankly would be incomprehensible in any well run
business outside of this sector. We think it would be nave to expect highly competitive, profit driven individuals to temper their own activities. It's simply not in their nature."
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Weather for Sheffield
Friday 10 February 2012
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