CHANGING THE UK mortgage system to adapt to the system used in the eurozone is not "absolutely neces...
CHANGING THE UK mortgage system to adapt to the system used in the eurozone is not "absolutely necessary" for joining the single currency, according to the Governor of the Bank of England Edward George, writes the FT. In an interview on BBC radio on Monday, George said that if the majority of people were to take out long-term fixed-rate mortgages "it would make it easier to live with the single interest rate" within the zone, but added that it was not a must. George's statement follows chancellor Gordon Brown's plans to reform housing finances before the euro decision is to be...
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