The former Bank of England (BoE) governor also hit out at the UK’s “political elite”, accusing them of allowing Britain to become a vassal state.
Mervyn King, an ex-BoE governor, has likened Prime Minister Theresa May’s draft Brexit deal to the appeasement of the Nazis in the 1930s, and described the ongoing shambles as “incompetence on a monumental scale.”
Mr. King’s remarks follow a warning by BoE Governor Mark Carney that a hard Brexit could have profound adverse effects on the UK economy, dragging it into a deep recession and causing property prices to plummet across the country.