Daniel Campos, member of the Argentine PSTU and author of ‘The End of the Corporation’ published in Spanish 2012. Available in English in 2013.

George Osborn selected Canadian Mark Carney to take over from Mervyn King amid great excitement in the City of London, but who is he and why the euphoria?

Mark Carney is head of Canada’s central bank. He worked at Goldman Sachs multinational bank for 13 years in London, Tokyo and Toronto where he was head of investment banking. He is a leading player in the world casino of speculative gambling that Goldman Sachs fostered, with help from the US and British government and other banks.

Many main stream commentators have suggested Mark Carney will change Tory government policy on public spending. His selection is down to the discredited leadership at the bank of England over the fiddling of the international exchange Libor rate. They need a pair of ‘clean hands’, or rather someone seen to have pair of clean hands who will continue policy ensuring the enrichment of the rich and impoverishment.

In January 2012 the Financial Times said Carney is “the leading example of a new breed of ambitious, internationally focused central bankers who view regulatory and monetary policy issues through a more market based lens”. That means he will give global capital markets even more free rein to rip up the last remains of the welfare state.

He will be paid nearly 1 million pounds and will give many more billions to the banks. His appointment is a prelude to another onslaught on the working class and the maintenance of the banks through public money (quantative easing). They cannot survive without it.

Carney’s appointment also means that the US government and banks have their man at the head of the City of London.

 The Socialist Voice is fighting to build a revolutionary party for workers and, as part of the IWL, to unite the struggles of the workers and peoples of the world against the brutal policies of capitalist governments.