In practice, any Saudi with a computer and a flexible bank balance can already look at any website.

ECONOMIST: Saudi Arabia

Like Sir Mervyn, he thinks it's not flexible enough and risks tying the central bank's hands.

BBC: On markets and helicopters

But, as I said on Thursday, the biggest argument against that you hear from people at the Bank is that our "flexible inflation targeting" regime already gives you everything you might have wanted from a nominal GDP regime.

BBC: A new target for the Bank of England?

It is more flexible (with a floating exchange rate) and its central bank is still soundly run.

ECONOMIST: Eastern Europe's economies

But the risk that the recent homeward flow of bank assets will ossify into a less efficient, less flexible cross-border banking system is real and growing.

ECONOMIST: Globalisation under strain: Homeward bound | The

Of course the bank insists it is operating within its rules but they have become more flexible.

BBC: Eurozone crisis: From deutschmark to lira?

Credit unions can often also be more flexible than banks in assessing borrowers for loans, and offer a human touch in handling your bank accounts.

FORBES: Pros And Cons Of Credit Unions -- And There Aren't Many Cons

This summer, King is due to be replaced by Bank of Canada Gov. Mark Carney, who has indicated he backs a more flexible inflation target.

NPR: BoE Governor Backed More Stimulus For UK Economy

What the economy really needs, says the Bank of Spain, is to rein in wage growth and make the labour market more flexible.

ECONOMIST: Spain