The single biggest risk to Britain’s nascent economic recovery is continued eurozone weakness, the Bank of England’s outgoing governor Mervyn King said in a television interview on Sunday.

He called for a “credible medium term plan” to get the economy back on track and said automatic economic stabilizers should be allowed to work.

He also predicted that North Sea oil output would recover in the next couple of years.

King last week predicted that UK growth would be faster and inflation lower than expected three months earlier.