Bank of England Governor Andrew Bailey doesn’t do panic, as only befits a sober central banker whose words have the power to move financial markets.
So when, in his other capacity as chairman of the Financial Stability Board, the world’s top financial watchdog, he warns the G20 club of major economies (gathered this week in North Carolina) that the global financial system is increasingly vulnerable to a variety of shocks, sensible folk sit up and take notice.
His warning has reignited fears that the bubble is about to burst for soaring stock markets propelled ever upwards on a massive wave of borrowed
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