Financial markets in greater danger than 2008-BoE's Fisher
LONDON Dec 19 (Reuters) - Financial markets are facing a more dangerous situation now than during the financial crisis of 2008, Bank of England policymaker Paul Fisher was quoted as saying on Monday.
Fisher, who is the central bank's executive director of markets and sits on the Monetary Policy Committee, also said governments had fewer options to deal with the current crisis because of their stretched public finances.
"Most people in financial markets have not lived through an episode like this before," Fisher told newswire Market News in an interview.
He said that while the situation is in "some ways not as bad" in terms of market stress, it is at the same time potentially "more dangerous".
Fisher was quoted as saying that in 2008, governments had more leeway and cash available to stimulate their economies and bail out banks.
Today that "sovereign backstop is less clear", Fisher said.
"The policy out is going to be more difficult than it was in 2009, given the current position of the sovereigns."
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