Elderly exaggerate QE effect on pensions, claims Bank of England Governor Sir Mervyn king Sir Mervyn also risked raising tempers in the City by moralising over the fact many bankers are motivated purely by money. "One of the most depressing things about some parts of the financial sector is that people seem to think their main objective of being in it is to earn enough money in order to leave it - as opposed to finding satisfaction and a life-long career within it," he said. Despite his downbeat assessment of the City's ethics, Sir Mervyn said he was optimistic the UK could return to growth rates seen before the financial crisis, although he believes it will take "some time" to more normal levels. In the eurozone, he said the loss of productivity and large deficits in some southern states meant there would be "no quick resolution" to the crisis.