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Former Bank of England Governor Eddie George has died.

David Cameron issued this statement:

"I was very sad to hear of the death of Lord George. Eddie George was an exceptionally distinguished Governor of the Bank of England over a long period. He was a fine public servant of great decency, and a source of wise advice on the current economic crisis on the occasions I have seen him – including at a 70th birthday lunch not very long ago. I pass on my condolences to his wife and family."

I worked at the Bank of England from 1992 to 1998.  'Steady Eddie' was hugely respected throughout the Bank.  He was very proud to have been Governor when the Bank won independence over interest rate policy but I remember his face at an extraordinary meeting of all staff in 1997 when he told us about the formation of the FSA and the loss of the Bank's supervisory functions.  No negative words passed his lips but his face was a picture of anger.

May his family know peace at this time.

Tim Montgomerie

6.30pm Statement from Ken Clarke: "This is very sad news and we will all miss him very much.  I always enjoyed working with him; he was a very wise head with a very calm temperament.  His advice was always worth having and he was a reliable colleague in every type of crisis.”

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