news Former Bank of England governor Eddie George dead of cancer at age 70

[rwilli1]

Former Bank of England governor Eddie George dead of cancer at age 70


Sat Apr 18, 1:24 PM





By The Associated Press



LONDON - Former Bank of England governor Eddie George has died at the age of 70.


George, who the bank says died of cancer on Saturday, headed the bank between 1993 and 2003 and was in charge when it was given independent authority to set interest rates in 1998.


He was appointed to the House of Lords in 2004, a year after he retired.


George joined the bank in 1962, at first specializing in East European affairs, and was appointed executive director in 1982.


He became deputy governor in 1990 and was knighted in 2000.


Mervyn King, the current governor of the Bank of England, also paid tribute to his predecessor, sometimes known as "Steady Eddie," for his calm approach.


"Eddie will be remembered as the governor who led the bank to independence," King said.