» Wednesday, October 15, 2008


Asked if the Prime Minister was still determined to stick to his previous stance on the Lloyds TSB takeover, and was No10 in the mood not to accede to bankers calls to renegotiate the deal along the lines of the US deal, the PMS replied that as others had said, the agreement reached with the bank was a voluntary one, and the terms were clear. There was no change in position.

Asked if the Prime Minister was satisfied with the extent of the stake that Government had taken in the banks, and if there was any way that this could be renegotiated at any stage, the PMS replied that as the Prime Minister had repeatedly made clear, the arrangements that we had put in place were the best arrangements possible to address the problem of liquidity in the market and the need to recapitalise financial institutions.

original source.

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

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