- By Joshua Keating
Joshua Keating is associate editor at Foreign Policy and the editor of the Passport blog. He has worked as a researcher, editorial assistant, and deputy Web editor since joining the FP staff in 2007. In addition to being featured in Foreign Policy, his writing has been published by the Washington Post, Newsweek International, Radio Prague, the Center for Defense Information, and Romania's Adevarul newspaper. He has appeared as a commentator on CNN International, C-Span, ABC News, Al Jazeera, NPR, BBC radio, and others. A native of Brooklyn, New York, he studied comparative politics at Oberlin College.
The paranoid will surely just chalk this up to the global Canadian bankers’ conspiracy:
Mark Carney has been named as the new governor of the Bank of England by Chancellor George Osborne.
Mr Carney, the governor of the Canadian central bank, will serve for five years and will hold new regulatory powers over banks.[…]
Mr Osborne told Parliament that Mr Carney, 47, would bring the "strong leadership and external experience the Bank needs" and added that the Canadian would apply for British citizenship.
The Washington Post’s Neil Irwin notes that Cameron’s willingness to look across the pond may signal tje relization that "being a central banker is a harder job in the post-crisis world than it ever was before, and to do it well calls on a mix of skills that few people on the planet possess." So what are Carney’s skills?
He led the Canadian economy through perhaps the best performance of the major Western nations during the crisis itself; there were no major failures of Canadian banks at a time when their international counterparts were falling like dominos, and the economic downturn in Canada was relatively mild. Carney is chairman of the Financial Stability Board, a group of leading regulators and central bankers who aim to deal with financial risks.
Apart from his time as a central banker, Carney has also been a creature of the financial markets. He spent 13 years at Goldman Sachs. While he has a PhD in economics from Oxford, he never worked as an academic economist. (He does not have British citizenship, though he has deep ties to the country, including his years at Oxford and a British-born wife).
Even so, the idea of importing a foreigner to such a high-profile position is bound to raise some eyebrows. As former FPer Annie Lowrey perceptively tweeted, "Would the United States mind having a foreign citizen be its central banker? (My guess, though not a confident one, is yes.)"
On the other hand, as I noted in this explainer, British law is pretty open to citizens of the commonwealth taking high government positions. For instance, to be a member of parliament according to British law, you need only be "18 years of age, and a British citizen, or citizen of a Commonwealth country or the Republic of Ireland." To date, the only prime minister born outside the British isles was New Brunswick’s own Bonar Law.
Daniel W. Drezner is professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and a senior editor at The National Interest. Prior to Fletcher, he taught at the University of Chicago and the University of Colorado at Boulder. Drezner has received fellowships from the German Marshall Fund of the United States, the Council on Foreign Relations, and Harvard University. He has previously held positions with Civic Education Project, the RAND Corporation, and the Treasury Department.| Daniel W. Drezner |
Blake Hounshell is managing editor at Foreign Policy, having formerly been Web editor. Hounshell oversees ForeignPolicy.com and has commissioned and edited numerous cover stories for the print magazine, including National Magazine Award finalist "Why Do They Hate Us?" by Mona Eltahawy. He also edits The Cable, FP's first foray into daily original reporting, and was editor of Colum Lynch's Turtle Bay, which in 2011 won a National Magazine award for best reporting in a digital format.
Blake joined Foreign Policy in 2006 after living in Cairo, where he studied Arabic, missed his Steelers finally win one for the thumb, and worked for the Ibn Khaldun Center for Development Studies. Blake was a 2011 finalist for the Livingston Awards prize for young journalists for his reporting on the Arab uprisings, and his Twitter feed was named one of Time magazine's "140 Best Twitter Feeds of 2011." Under his leadership, in 2008, Passport, FP's flagship blog, won Media Industry Newsletter's "Best of the Web" award in the blog category. Along with Elizabeth Dickinson, he edited Southern Tiger: Chile's Fight for a Democratic and Prosperous Future, the memoirs of former Chilean president Ricardo Lagos, published by Palgrave Macmillan in 2012.
A graduate of Yale University, Blake speaks mangled Arabic and French, is an avid runner, and lives in Washington with his wife, musician Sandy Choi, and their toddler, David. Follow him on Twitter @blakehounshell.| Passport |