The governor of the Bank of England said he drew “strength and inspiration to face new and difficult challenges” from his predecessor “Steady Eddie” George, who led the Bank to independence.
Mervyn King paid tribute to Lord George during a private memorial service for the former governor at St Paul’s Cathedral, in central London.
The quietly-spoken father-of-five, who died in April aged 70, helped ease – to a certain degree – growing tensions between economists and politicians as he presided over an era of reform before quitting after almost 40 years at the Bank.
Mr King said his predecessor’s role advising the Government on debt management was “valued at the very highest levels – right up to the Prime Minister”.
He added: “From our memories of him, we draw strength and inspiration to face new and difficult challenges, as he inspired so many during his lifetime.”