Outlook uncertain but haven't seen contagion yet
BOE dep gov speaking now on BBC radio
- ECB now has more tools to deal with contagion
- Greek crisis is fluid, volatile and dangerous
- UK banks are stronger, lower Greek exposure but aware of Greek spillover to UK
- level of debt in UK at historical highs
- housing market remains a concern as price rises outweigh incomes
- UK productivity improving and expects it to pick up further
- any decision by HSBC to move its HQ will be driven by business considerations not a search for looser regulation
Interview over but concerns on UK domestic debt levels follows on nicely from my piece yesterday
