Bank of England chief: UK economic recovery slow
LONDON (AP) — Bank of England Governor Mervyn King says Britain's economy is recovering slowly and any return to normal will take a long time.
In an interview with Britain's Channel 4 News on Thursday, King said the eurozone crisis has cast a "black cloud of uncertainty" over global businesses.
He said that the European Central Bank's actions to support the euro had bought some breathing room and that "now is the time" for eurozone finance ministers to settle the future of the currency.
King says that there are "a few signs" of a slow recovery in Britain, but that "after a banking crisis one can't expect to get back to normal" and that any recovery would depend on events in the euro area and countries such as the U.S. and China.