Yet he correctly divined that, having lost three elections in a row on the right-wing platforms favoured by its members, it needed to change.
However it has stopped short of adopting the policies favoured by its US counterpart, the Federal Reserve.
Criticism of the Bank for adopting the "sledgehammer" approach favoured by its chief economist, Andy Haldane, is wide of the mark.
This tit-for-tat argument, in which every "independent" report comes up with the answer favoured by its commissioner is not getting us anywhere.
With practically no industry, the town depends primarily on the tourist trade, being favoured by its position, which is 17 miles (28 km) from the magnificent Gorges of the Tarn.
In 1906 a road bridge across the Salée River replaced the existing ferry, and, favoured by its central position and harbour facilities, Pointe-à-Pitre became the chief commercial town.
During the 19th century, Moncton, favoured by its location at the head of a deepwater inlet, became a busy shipbuilding centre, but, with the advent of steam vessels in the 1870s, this industry faded.
And the potential savings from sacking excess head-office staff and combining sales forces are estimated at between $250m and $500m.Roche's managers argue that mid-sized takeovers are gentler than the mega-mergers favoured by its peers.
The work of the original writer, who first had the idea for the film and won the trust of the WI, was substantially rewritten just before filming began with the comic approach favoured by its Hollywood backers, Buena Vista International.
Other important work included William H. Gass's Middle C, in which he told the story of a fraudulent music professor who curates a secret museum of atrocities on the top floor of a house he shares with his mother; like all of Gass's work, the novel was intricately crafted, echoing in its structure the atonal music favoured by its protagonist.
