King: 'I did not fire Diamond'

The Governor of the Bank of England, Sir Mervyn King, speaking in his first-ever live television interview, said that he did not contribute to Bob Diamond leaving as the boss of Barclays earlier this year.

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Sir Mervyn King warns of eurozone 'black cloud of uncertainty' over British business

The Governor of the Bank of England warned that any recovery would be slow and that the crisis in the eurozone had cast a "black cloud of uncertainty" over businesses around the world.

"I think it's this black cloud of uncertainty which is hanging over British business as it is hanging over American business."

Governor of the Bank of England Sir Mervyn King Credit: Dominic Lipinski/PA Wire

The European Central Bank's actions to support the currency had bought some breathing space, Sir Mervyn said in an interview with Channel 4 news.

"Now is the time that they have to decide exactly what kind of monetary union they want."

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