“For the Government, these sorts of figures are terrifying, implying some form of additional taxpayer support for either Lloyds Banking Group, or more particularly, the Royal Bank of Scotland, in which it has major stakes.”
23rd March, 2013
Britain’s banks are under-capitalised. Not just by a little bit, but a lot. Under the Bank of England’s worst-case estimate, lenders need to raise something in the order of £60bn, more than three times the amount required to bail out Cyprus, which gives some idea of the scale of the problems officials think the industry faces.
In These New Times 