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Covid debts could spark next financial crisis: King

Jun 25, 2020 - The Daily Telegraph (London)

THE world is facing a coronavirus debt time bomb as countries borrow trillions of pounds to fight the pandemic, former Bank of England governor Mervyn King has warned.

Lord King, who led the Bank through the global financial crisis of 2008/9 before stepping down in 2013, said companies and countries alike could be sunk by the weight of new loans - potentially triggering another meltdown. The cross-bench peer told The Telegraph's Planet Normal podcast that the virus had struck at a time of ...