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NORTH DIRECTS IRE AT EDDIE GEORGE

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Bank of England governor Eddie George has been challenged by northern councils to explain his reported comment that...
Bank of England governor Eddie George has been challenged by northern councils to explain his reported comment that job losses in the north-east were an acceptable price to curb inflation in the south.

In a letter to Mr George, Bryn Sidaway, chairman of the North of England Assembly of Local Authorities, says: 'The Bank of England's reputation is based on the fact that it seeks to serve the interests of the whole nation . . . your comments - if correctly reported - have deeply damaged that reputation is this region.

'As we have suffered a series of major closures we have have been told they are the result of the turmoil in the world economy. Now it seems the truth may lie closer to home.'

A Bank of England spokesman said Mr George would respond in due course.
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