Euro crisis immense: Broadbent

The scale of the deepening financial crisis in the Eurozone is so great that policy can not protect Britain from it, according to MPC member Ben Broadbent. Banking policy would work “only to some extent” as the scale of some problems were such that “one cannot offset them”, he told the Financial Times. The former Goldman Sachs economist, who joined the rate setting committee in June, likened the gathering crisis to the unpreventable 2008/2009 recession.