Ed Balls MP

Ed Balls used a war game to test plans prior to the financial crash

Raleigh Addington
Raleigh Addington
editor at Chartwell Speakers

TodEd Balls speaking outay The Times published an extract of Ed Balls’ soon-to-be-published memoir, Speaking Out: Lessons in Life and Politics, where he recounts playing a war game with Mervyn King and Callum McCarthy to test their strategy for a financial crisis.

Interesting to note that this game was played only a few short months before the collapse of the US housing market and the consequential financial crash experienced across the world. 

From Ed’s memoir:

It was a Thursday afternoon in late 2006. Mervyn King, the Governor of the Bank of England, Callum McCarthy, the head of the Financial Services Authority, and I were being presented with a dangerous and fast-changing financial war-game scenario, designed by our officials at my request to test out our mechanisms for dealing with a future financial crisis should one arrive. Read more >>

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