A top policymaker within the Monetary Policy Committee (MPC) is calling for the Bank of England to aggressively manage tools for reviving the economy. That includes printing more money and buying mortgage books from the banks. He believes taking these steps will help minimize the chance of the UK economy sliding back into a double dip recession and possibly, even, a long slump.

Adam, Posen, a US academic, serves as an external member of the MPC and has strong opinions about tackling the problems of this economy. He commented about the strategy saying: "The case I wish to make is that monetary policy should continue to be aggressive about promoting recovery, and, subject to further debate, I think further easing should be undertaken."

Posen used Japan’s decades of stagnation post 1990, as an example of a model economy not to be emulated. He said low growth might "erode political moderation and the liberal governments we also must pass on to future generations."

This is the first time an MPC member has publicly suggested avoiding the purchase of government securities, in favor of corporate bonds, commercial paper and attractive mortgages to help manage the supply of credit flowing through the economy.

He took the opportunity to make a stern warning about the economy, saying: "This is not a normal situation with finely balanced risks on both sides or with monetary policy able to finely calibrate to an outcome."

He added to his earlier comments, describing how he feels about recovery, saying: "Economic recovery following a financial crisis is a long process dominated by the interaction of unemployed resources, dysfunctional banking systems, and the degree of policy stimulus. We are a long way from home, and a long, long way from overheating."