Head of British Central Bank warns of a new financial crisis

The head of the Bank of England warned that Britain could be at the mercy of a new financial crisis without reforming the country's banks. In an interview with The Daily Telegraph Mervyn King said that the imbalances in the banking system persist and begin to grow again. In this regard, he urged major banks to look at their customers in terms of longer-term perspective, and stop focusing on the need to "just to maximize profits for next week ". King accused the banks in the daily operation of millions of customers, and criticized the importance that has cut deals for acquisitions. He expressed concern that companies with good reputation destroyed because the search of short-term profits. The publication is believed that the words of the head of the Central Bank - a warning finance minister George Osborne. Now the Commission of the Government is discussing whether to oblige the major banks to sell their investment units. They say that Osborne against it, but King's opinion is of great importance. King sees the root of all evil in the culture of short-term earnings and bonuses in the banks.