Mervyn King the Governor of the Bank of England, has extended the Banks guarantee to cover any loans made by other financial institutions to the Northern Rock. This now means each and every taxpayer is exposed to the tune of £2000. This guarantee accounts for an additional 30% of the Rocks balance sheet.
The question is now, when do we call it nationalised?
Showing posts with label Bank of England. Show all posts
Showing posts with label Bank of England. Show all posts
Tuesday, 18 December 2007
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