Alistair Darling’s latest comments are among the most baffling he has made during this whole crisis. Here is his response when asked on BBC News about reports that the Bank of England is to start printing money:
“We’re looking at a range of measures to support the economy, to support business, to help people, but nobody is talking about printing money.
“There’s a debate to be had about what you do to support the economy as interest rates approach zero, as they are in the United States. But for us that is an entirely hypothetical debate,” he said.
He added: “We are looking at a range of measures to support the economy, to support business and to help people. But nobody is talking about printing money.”
But if there is a debate, surely someone has to be talking, if only hypothetically. Darling clearly needs to take some lessons from Bernard Woolley.
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