Mark Carney and Bank of England (Hr. 3)

(AP Photo/Lefteris Pitarakis, File)

(AP Photo/Lefteris Pitarakis, File)

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After months of denials, it was confirmed this week that Mark Carney will be turning in his parking pass at the Bank of Canada and heading across the pond to head up the Bank of England.

He's always been considered brilliant ... in appointing him, British Chancellor George Osborne called him the outstanding central banker of his generation.

In taking the job, Mr. Carney completes his transition from resident of the tiny town of Fort Smith in the Northwest Territories to an undisputed Rock Star of the banking world.

If they have Rock Stars in the banking world.

Mr. Carney will be taking over one of the world's oldest and largest financial institutions. What exactly is the Bank of England and what does it do? How does it deal with the crisis in the Euro Zone? Mark Carney is the first non-British subject to run the bank in 318 years.

The Old Lady of Threadneedle Street is about to greet her foreign suitor in January.

Dr. Stephanie Hare is the Senior analyst for Western Europe for Oxford Analytica, a private company made up largely of Oxford Professors, that provides analysis for clients around the world.

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