» Monday, April 21, 2008

Northern Rock

Asked if the Prime Minister accepted that if the Government and the tri-partite authorities had acted earlier in providing support, the Northern Rock crisis could have been avoided, the PMS said that we would not accept that; the circumstances surrounding Northern Rock depended very much on the individual business model that had been pursued by Northern Rock. The Government had provided considerable support and had intervened to stabilise the situation with regard to Northern Rock and prevent any contagion effects to other financial institutions.

original source.

Briefing took place at 11:00 | Search for related news

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