International investors and lenders now view the UK economy as similar to Italy and Greece, a former deputy governor of the Bank of England has warned.
Sir Charlie Bean, who was deputy governor for monetary policy from 2008 to 2014, said it was “disingenuous” of the government to say the market turmoil is “all a global phenomenon”.
Political and economic instability domestically, coupled with the “global element” had caused the UK’s standing to plummet, he said.
“We have moved from looking not too dissimilar from the US or Germany as a proposition to lend to, talking more like Italy or Greece.”
