The Governor of the Bank of England, Sir Eddie George, has said the only remedy for the struggling euro is prayer, an English newspaper reported today.
"If you believe in the power of prayer, you will join me this evening in praying for the euro to recover," Mr George told an audience of economics students, according to the Financial Timesnewspaper.
"I am not going to say the only thing we can do is pray, because a lot of people would criticise me for that," he said at Bristol University in southwest England. "But it is the only thing we can do."
Mr George has said he is mystified that the European single currency has failed to strengthen against the dollar.
"I have expected that for the last two years and probably three. I kept backing the wrong horse," the newspaper quoted him as saying.
Mr George said earlier this week that the weakness of the euro against the pound was a significant obstacle to Britain entering the eurozone. The government is currently weighing up whether and when to join.
He made his frank comments at an invitation-only event from which journalists were barred, the paper said.
AFP