Sunday, May 24, 2015

Secret Bank of England taskforce investigates financial fallout of Brexitian

Secret Bank of England taskforce investigates financial fallout of Brexit | Business | The Guardian
News of undercover project emerges after Bank staff accidentally email details to the Guardian including PR notes on how to deny its existence
 Bank of England officials are secretly researching the financial shocks that could hit Britain if there is a vote to leave the European Union in the forthcoming referendum.
The Bank blew its cover on Friday when it accidentally emailed details of the project – including how the bank intended to fend off any inquiries about its work – direct to the Guardian.
According to the confidential email, the press and most staff in Threadneedle Street must be kept in the dark about the work underway, which has been dubbed Project Bookend.
Brexit – what would happen if Britain left the EU?
It spells out that if anyone asks about the project, the taskforce must say the investigation has nothing to do with the referendum, saying only that staff are involved in examining “a broad range of European economic issues” that concern the Bank.
The revelation is likely to embarrass the bank governor, Mark Carney, who has overhauled the central bank’s operations and promised greater transparency over its decision-making..."

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