Financial Services Authority Chairman Adair Turner has said that unconventional measures are required to be implemented to ensure that the continuing Eurozone debt crisis does not affect economic growth rates for several years to come.

Turner told financial leaders that he is willing to take radical steps to address economic issues following his application to become the next governor of the Bank of England from July 2013. The financial controllers are finding it difficult to ensure that the economy has enough credit and the banks are holding enough capital to avoid risks.

At the present situation with Eurozone debt crisis and the need to cut spending has made it even more difficult for policy makers to ensure the balance in the economy. The British government is already working on measures to ensure recovery for the economy such as buying government bonds and incentives to banks for lending.

"We have to find creative ways forward which as best possible both increase resilience and support lending and as a result, maintain nominal demand," Turner said. He was speaking at Mansion House in London's historic financial district.