Does the Old Lady need an economist or an ex-banker?

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The Financial Times says Alastair Darling and Mervyn King are at odds over who should be the next deputy governor of the Bank of England.

Darling's said to want someone with a City background, who can restore the Bank's damaged reputation in the wake of Northern Rock.

King, a former professor at the London School of Economics, is said to prefer someone in his own image, and is calling for the appointment of a deputy with a professional background in monetary policy.

Rising inflation and problems at leading banks like RBS and Bradford & Bingley make the appointment an important one. So who's best placed to strengthen the Old Lady at this juncture - a practitioner or a theoretician? Share your thoughts below.

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